Digital Realty Trust (DLR) Q3 2026 Earnings Call: Guidance and Outlook
Management raised its full year 2026 outlook, reflecting strong operational momentum, record leasing, and increased contributions from development and private capital strategies.
About Digital Realty Trust. Digital Realty Trust, Inc. P.
No specific formal next-quarter numerical guidance was provided, though management noted strong continued momentum entering the fourth quarter.
Annual guidance
Core FFO per share
$8.30 to $8.35 per share
Cash renewal spreads
10% to 12%
Same capital cash NOI growth
5.25% to 5.75% on a constant currency basis
Capital expenditures
$4.25 billion to $4.75 billion net of partner contributions
Capital recycling
$1.5 billion to $2 billion
Outlook
Customer demand
Demand remains broad-based across geographies, customer segments, and deployment types, driven by cloud adoption and artificial intelligence.
AI infrastructure
AI adoption is extending beyond large-scale training into enterprise adoption, inference workloads, and distributed edge hubs.
Development pipeline
The development pipeline stands at 1.5 gigawatts under construction at a total expected cost of $22 billion with an 11.6% average expected stabilized yield.
Balance sheet
Pro forma leverage remains below 5x at quarter end, supported by diverse access to public and private capital sources.
Dombey's summary of the Digital Realty Trust Q3 2026 earnings call held Oct 29, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
