Digital Realty二季度核心FFO超预期并上调全年指引

Digital Realty Reports Second Quarter 2026 Results
AUSTIN, Texas, July 23, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world’s largest cloud- and carrier-neutral data center platform, announced today financial results for the second quarter of 2026. All per share results are presented on a fully diluted basis.
Highlights
- Reported net income available to common stockholders of $1.21 per share in 2Q26, compared to $2.94 in 2Q25
- Reported FFO per share of $2.73 in 2Q26, compared to $1.75 in 2Q25
- Reported Core FFO per share of $2.65 in 2Q26, compared to $1.87 in 2Q25; reported Core FFO per share (excluding net promote) of $2.13 in 2Q26
- Signed total bookings during 2Q26 that are expected to generate $307 million of annualized GAAP base rent at 100% share; at Digital Realty’s share, bookings were $208 million, including a $108 million contribution from the 0-1 megawatt plus interconnection category
- In July, signed two hyperscale leases, representing $410 million of annualized GAAP base rent at 100% share, or $205 million at Digital Realty’s share
- Reported rental rate increases on renewal leases of 25.4% on a cash basis in 2Q26
- Reported a record total backlog of $1.9 billion of annualized GAAP base rent at 100% share, at the end of 2Q26; at Digital Realty’s share, the backlog was $1.4 billion
- Raised 2026 Core FFO per share (excluding net promote) outlook to $8.15 - $8.20 and 2026 Constant-Currency Core FFO per share (excluding net promote) outlook to $8.10 - $8.15
Financial Results
Digital Realty reported total revenues of $1.9 billion in the second quarter of 2026, an 18% increase from the previous quarter and a 29% increase from the same quarter last year.
During the second quarter, Digital Realty recognized $188 million of net promote income in Core FFO related to the successful development and leasing of three data centers in its development joint venture. The company also recognized a $94 million insurance settlement, net of income tax, related to a previously disclosed 2024 matter, of which approximately $27 million was recognized in Core FFO as business interruption recovery; the remainder related to property damage recoveries, was excluded from Core FFO.
The company delivered net income of $458 million in the second quarter of 2026, as well as net income available to common stockholders of $443 million and $1.21 per share, compared to $0.46 per share in the previous quarter and $2.94 per share in the same quarter last year.
Digital Realty generated Adjusted EBITDA of $978 million in the second quarter of 2026, a 6% increase from the previous quarter and a 19% increase over the same quarter last year.
The company reported Funds From Operations (FFO) of $982 million in the second quarter of 2026, or $2.73 per share, compared to $1.99 per share in the previous quarter and $1.75 per share in the same quarter last year.
Digital Realty delivered Core FFO per share (excluding net promote) of $2.13 in the second quarter of 2026, compared to $2.04 per share in the previous quarter and $1.87 per share in the same quarter last year. Digital Realty delivered Constant-Currency Core FFO per share (excluding net promote) of $2.11 in the second quarter of 2026 and $4.07 per share for the six-month period ended June 30, 2026.
“Digital Realty delivered record Core FFO per share in the quarter, reflecting robust customer demand and strong execution across our core pillars of growth,” said President and Chief Executive Officer Andy Power. “We signed more than $100 million of 0-1 MW plus Interconnection bookings for the first time, demonstrating the strength of our connectivity-rich portfolio and boosting near-term growth. We also continued to make strides in our hyperscale and strategic private capital verticals, as we added powered land in the Kansas City metro, accretively purchased interests in three hyperscale data centers in Northern Virginia, and announced the deal to acquire Columbia Capital, a leading investment firm in the digital infrastructure space. Together, these growth vectors are driving double-digit bottom line growth, and we are focused on extending this runway for years to come.”
Leasing Activity
In the second quarter, Digital Realty signed total bookings that are expected to generate $307 million of annualized GAAP rental revenue, at 100% share; at Digital Realty’s share, total bookings were $208 million, including an $88 million contribution from the 0-1 MW category and a $20 million contribution from interconnection.
The weighted-average lag between new leases signed during the second quarter of 2026 and the contractual commencement date was nine months. The backlog of signed-but-not-commenced leases at quarter-end was $1.9 billion of annualized GAAP base rent at 100% share, and $1.4 billion at Digital Realty’s share. In addition, Digital Realty also signed renewal leases representing $262 million of annualized cash rental revenue during the quarter. Rental rates on renewal leases signed during the second quarter of 2026 increased 25.4% on a cash basis and 32.0% on a GAAP basis.
New leases signed during the second quarter of 2026, at Digital Realty’s share, are summarized by region and product as follows:
| Annualized GAAP | ||||||||
| Base Rent | GAAP Base Rent | |||||||
| Americas | (in thousands) | Megawatts | per Kilowatt | |||||
| 0-1 MW | $ | 37,131 | 10.6 | $ | 293 | |||
| > 1 MW | 82,706 | 44.2 | 156 | |||||
| Other(1) | 142 | — | — | |||||
| Total | $ | 119,980 | 54.8 | $ | 182 | |||
| EMEA(2) | ||||||||
| 0-1 MW | $ | 42,149 | 13.0 | $ | 269 | |||
| > 1 MW | 4,999 | 2.5 | 167 | |||||
| Other(1) | 21 | — | — | |||||
| Total | $ | 47,168 | 15.5 | $ | 253 | |||
| Asia Pacific(2) | ||||||||
| 0-1 MW | $ | 8,541 | 2.5 | $ | 286 | |||
| > 1 MW | 12,141 | 6.2 | 165 | |||||
| Other(1) | 170 | — | — | |||||
| Total | $ | 20,851 | 8.6 | $ | 199 | |||
| All Regions(2) | ||||||||
| 0-1 MW | $ | 87,821 | 26.1 | $ | 280 | |||
| > 1 MW | 99,846 | 52.9 | 157 | |||||
| Other(1) | 332 | — | — | |||||
| Total | $ | 187,999 | 79.0 | $ | 198 | |||
| Interconnection | $ | 20,497 | N/A | N/A | ||||
| Grand Total at DLR Share | $ | 208,495 | 79.0 | $ | 198 | |||
| Grand Total at 100% Share | $ | 306,944 | 129.8 | $ | 183 |
Note: Totals may not foot due to rounding differences.
(1) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center facilities.
(2) Based on quarterly average exchange rates during the three months ended June 30, 2026.
Investment Activity
During the second quarter of 2026, Digital Realty acquired:
- Land in Marseille, France for approximately €46.5 million, or $53.1 million, that is expected to support the development of up to 48 megawatts of IT capacity.
- Land in the Atlanta metro area for approximately $20 million. Together with an adjacent parcel that was acquired in the first quarter, this campus is expected to support over one gigawatt of IT capacity.
As previously announced, during the quarter, Digital Realty also acquired:
- Land in the Kansas City metro area for approximately $475 million to support hyperscale data center development for up to two gigawatts of utility power.
- Two data centers in Malaysia containing 16.5 megawatts of IT capacity, and a land parcel that is expected to support the development of up to 14 megawatts of IT capacity, for total consideration of approximately $134 million.
- A 64% stake in three fully leased data centers in Northern Virginia containing 288 megawatts of IT capacity, at a gross value of approximately $7.8 billion, reflecting an expected initial stabilized cap rate of over 6.5%. The newly developed assets are expected to be fully stabilized in the first half of 2027 and first half of 2028. Total consideration for our joint venture partners’ equity interest in the assets was approximately $3.5 billion, including $1.2 billion of cash and 12.3 million shares of Digital Realty common stock.
As previously