Digital Realty raises its outlook after record data-center leasing

Digital Realty ($DLR) raised its 2026 core funds-from-operations forecast, excluding net promote income, to $8.30–8.35 per share. Third-quarter 2026 revenue increased 21% to $1.9 billion, while core FFO excluding net promote rose to $2.10 per share from $1.89. GAAP earnings available to common shareholders were $0.48 per share, compared with $0.15. Renewal leases carried cash rental-rate increases of 11.8%.

Newly signed leases are expected to produce $855 million of annualized GAAP base rent at full project ownership, or $627 million at Digital Realty’s ownership share. Their average contractual start lag was 17 months, so these bookings are not current-quarter revenue. Signed leases awaiting commencement represented $1.8 billion of annualized rent at the company’s share, giving visibility into future demand while retaining development and commencement timing risk.

Sources:

• digitalrealtytrust.gcs-web.com
• marketscreener.com