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63.03 (1y: -12%)
Market Cap 8.09 B P/E(ttm) 43.40
Enterprise Value 13.18 B P/B 2.73
DLR- NYSE (USA)
Digital Realty Trust, Inc.
Not Rated
Top Ranked Predictable Companies
$63.03
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 3/10

vs
industry		 vs
history
Cash to Debt 0.013
DLR's Cash to Debt is ranked lower than
71% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.04 vs. DLR: 0.013 )
DLR' s 10-Year Cash to Debt Range
Min: 0   Max: 0.05
Current: 0.01
0
0.05
Equity to Asset 0.346
DLR's Equity to Asset is ranked lower than
71% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.47 vs. DLR: 0.346 )
DLR' s 10-Year Equity to Asset Range
Min: 0.17   Max: 1
Current: 0.35
0.17
1
Interest Coverage 2.4
DLR's Interest Coverage is ranked higher than
61% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 1.80 vs. DLR: 2.4 )
DLR' s 10-Year Interest Coverage Range
Min: 1   Max: 2
Current: 2.4
1
2
F-Score: 5
Z-Score: 0.88
M-Score: -1.37
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry		 vs
history
Operating margin (%) 28.60
DLR's Operating margin (%) is ranked lower than
59% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 34.40 vs. DLR: 28.60 )
DLR' s 10-Year Operating margin (%) Range
Min: 17.5   Max: 42.6
Current: 28.6
17.5
42.6
Net-margin (%) 16.4
DLR's Net-margin (%) is ranked lower than
60% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 29.10 vs. DLR: 16.4 )
DLR' s 10-Year Net-margin (%) Range
Min: -0.2   Max: 26.4
Current: 16.4
-0.2
26.4
ROE (%) 6.1
DLR's ROE (%) is ranked lower than
51% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 6.20 vs. DLR: 6.1 )
DLR' s 10-Year ROE (%) Range
Min: 2.6   Max: 11.2
Current: 6.1
2.6
11.2
ROA (%) 2.4
DLR's ROA (%) is ranked lower than
52% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 2.50 vs. DLR: 2.4 )
DLR' s 10-Year ROA (%) Range
Min: 0.4   Max: 3.5
Current: 2.4
0.4
3.5
ROC (Joel Greenblatt) (%) 5.00
DLR's ROC (Joel Greenblatt) (%) is ranked higher than
71% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 2.10 vs. DLR: 5.00 )
DLR' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 2.3   Max: 10.1
Current: 5
2.3
10.1
Revenue Growth (%) 7.5
DLR's Revenue Growth (%) is ranked higher than
95% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.00 vs. DLR: 7.5 )
DLR' s 10-Year Revenue Growth (%) Range
Min: 0   Max: 12.3
Current: 7.5
0
12.3
EBITDA Growth (%) 7.8
DLR's EBITDA Growth (%) is ranked higher than
86% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.00 vs. DLR: 7.8 )
DLR' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 21.1
Current: 7.8
0
21.1
EPS Growth (%) 24.8
DLR's EPS Growth (%) is ranked higher than
88% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.00 vs. DLR: 24.8 )
DLR' s 10-Year EPS Growth (%) Range
Min: 0   Max: 34
Current: 24.8
0
34
» DLR's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

DLR Guru Trades in Q2 2012

Meridian Funds 6,800 sh (New)
Paul Tudor Jones 88,427 sh (New)
Jim Simons 169,900 sh (New)
Pioneer Investments 35,000 sh (New)
Scott Black 112,452 sh (+14.43%)
Chris Davis 969,918 sh (+1.4%)
Columbia Wanger 772,000 sh (unchged)
Manning & Napier Advisors, Inc 1,063,838 sh (-3.8%)
Jeremy Grantham 48,900 sh (-4.86%)
Steven Cohen 10,482 sh (-7.54%)
Ron Baron 3,270 sh (-30.41%)
Ken Heebner 219,500 sh (-80.82%)
» More
Q3 2012

DLR Guru Trades in Q3 2012

Steven Cohen 12,928 sh (+23.34%)
Columbia Wanger 772,000 sh (unchged)
Meridian Funds 6,800 sh (unchged)
Paul Singer 200,000 sh (unchged)
Ron Baron Sold Out
Paul Tudor Jones Sold Out
Ken Heebner Sold Out
Jim Simons Sold Out
Scott Black 111,938 sh (-0.46%)
Manning & Napier Advisors, Inc 1,027,228 sh (-3.44%)
Chris Davis 886,759 sh (-8.57%)
Jeremy Grantham 44,700 sh (-8.59%)
Pioneer Investments 15,000 sh (-57.14%)
» More
Q4 2012

DLR Guru Trades in Q4 2012

Ken Fisher 89,263 sh (New)
Steven Cohen 327,113 sh (+2430.27%)
Chris Davis 1,181,082 sh (+33.19%)
Scott Black 144,508 sh (+29.1%)
Manning & Napier Advisors, Inc 1,039,268 sh (+1.17%)
Paul Singer 200,000 sh (unchged)
Meridian Funds 6,800 sh (unchged)
Columbia Wanger 772,000 sh (unchged)
Jeremy Grantham 40,000 sh (unchged)
Pioneer Investments Sold Out
» More
Q1 2013

DLR Guru Trades in Q1 2013

Manning & Napier Advisors, Inc 1,055,541 sh (+1.57%)
Paul Singer 100,000 sh (unchged)
Meridian Funds 6,800 sh (unchged)
Steven Cohen Sold Out
Ken Fisher Sold Out
Scott Black 143,600 sh (-0.63%)
Chris Davis 1,141,998 sh (-3.31%)
Columbia Wanger 586,950 sh (-23.97%)
Jeremy Grantham 3,180 sh (-92.05%)
» More
» Details

Insider Trades

Latest Guru Trades with DLR

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Scott Black 2012-12-31 Add 29.1%0.32%$59.28 - $69.71 $ 63.03-3%144508
Ron Baron 2012-09-30 Sold Out 0.0015%$67.37 - $80.28 $ 63.03-16%0
Scott Black 2012-06-30 Add 14.43%0.16%$68.58 - $75.87 $ 63.03-13%112452
Meridian Funds 2012-06-30 New Buy0.02%$68.58 - $75.87 $ 63.03-13%6800
Ron Baron 2012-06-30 Reduce -30.41%$68.58 - $75.87 $ 63.03-13%3270
Ron Baron 2011-09-30 New Buy$50.63 - $63.69 $ 63.038%5150
Ron Baron 2010-12-31 Sold Out 0.61%$48.32 - $62.27 $ 63.0314%0
Meridian Funds 2010-12-31 Sold Out 0.5%$48.32 - $62.27 $ 63.0314%0
Meridian Funds 2010-03-31 Reduce -21.31%0.14%$46.69 - $56.46 $ 63.0323%290289
Premium More recent guru trades are included for Premium Members only!!

Ratios

vs
industry		 vs
history
P/E(ttm) 43.40
DLR's P/E(ttm) is ranked lower than
75% of the 269 Companies
in the Global REIT - Office industry.

( Industry Median: 19.90 vs. DLR: 43.40 )
DLR' s 10-Year P/E(ttm) Range
Min: 41.31   Max: 528.75
Current: 43.4
41.31
528.75
P/B 2.73
DLR's P/B is ranked lower than
81% of the 329 Companies
in the Global REIT - Office industry.

( Industry Median: 1.30 vs. DLR: 2.73 )
DLR' s 10-Year P/B Range
Min: 1.23   Max: 5.24
Current: 2.73
1.23
5.24
P/S 5.62
DLR's P/S is ranked higher than
66% of the 338 Companies
in the Global REIT - Office industry.

( Industry Median: 7.00 vs. DLR: 5.62 )
DLR' s 10-Year P/S Range
Min: 1.98   Max: 7.4
Current: 5.62
1.98
7.4
EV-to-EBIT 34.8
DLR's EV-to-EBIT is ranked lower than
61% of the 309 Companies
in the Global REIT - Office industry.

( Industry Median: 27.00 vs. DLR: 34.8 )
DLR' s 10-Year EV-to-EBIT Range
Min: 24   Max: 69.4
Current: 34.8
24
69.4
PEG 3.59
DLR's PEG is ranked lower than
51% of the 91 Companies
in the Global REIT - Office industry.

( Industry Median: 3.50 vs. DLR: 3.59 )
DLR' s 10-Year PEG Range
Min: 2.22   Max: 13.37
Current: 3.59
2.22
13.37
Shiller P/E 68.47
DLR's Shiller P/E is ranked lower than
100% of the Companies
in the Global REIT - Office industry.

( Industry Median: vs. DLR: 68.47 )
DLR' s 10-Year Shiller P/E Range
Min: 68.51   Max: 131.87
Current: 68.47
68.51
131.87

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 4.71
DLR's Dividend Yield is ranked higher than
62% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 4.06 vs. DLR: 4.71 )
DLR' s 10-Year Dividend Yield Range
Min: 1.07   Max: 5.82
Current: 4.71
1.07
5.82
Dividend Payout 1.6
DLR's Dividend Payout is ranked lower than
76% of the 246 Companies
in the Global REIT - Office industry.

( Industry Median: 1.05 vs. DLR: 1.6 )
DLR' s 10-Year Dividend Payout Range
Min: 0.69   Max: 1.8
Current: 1.6
0.69
1.8
Dividend growth (3y) 18.7
DLR's Dividend growth (3y) is ranked higher than
95% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.00 vs. DLR: 18.7 )
DLR' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 65.5
Current: 18.7
0
65.5
Yield on cost (5-Year) 15.12
DLR's Yield on cost (5-Year) is ranked higher than
98% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 3.76 vs. DLR: 15.12 )
DLR' s 10-Year Yield on cost (5-Year) Range
Min: 3.37   Max: 18.34
Current: 15.12
3.37
18.34
Share Buyback Rate -10.8
DLR's Share Buyback Rate is ranked lower than
76% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: -2.80 vs. DLR: -10.8 )
DLR' s 10-Year Share Buyback Rate Range
Min: 0   Max: -33
Current: -10.8

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 98.6
DLR's Price/Net Current Asset Value is ranked lower than
53% of the 118 Companies
in the Global REIT - Office industry.

( Industry Median: 82.90 vs. DLR: 98.6 )
DLR' s 10-Year Price/Net Current Asset Value Range
Min: 45.1   Max: 558.7
Current: 98.6
45.1
558.7
Price/Tangible Book 3.2
DLR's Price/Tangible Book is ranked lower than
86% of the 328 Companies
in the Global REIT - Office industry.

( Industry Median: 1.30 vs. DLR: 3.2 )
DLR' s 10-Year Price/Tangible Book Range
Min: 1.6   Max: 6
Current: 3.2
1.6
6
Price/Median PS Value 1.1
DLR's Price/Median PS Value is ranked higher than
80% of the 319 Companies
in the Global REIT - Office industry.

( Industry Median: 1.30 vs. DLR: 1.1 )
DLR' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 1.1
Current: 1.1
0.5
1.1
Price/Peter Lynch Fair Value 2.8
DLR's Price/Peter Lynch Fair Value is ranked lower than
65% of the 34 Companies
in the Global REIT - Office industry.

( Industry Median: 2.70 vs. DLR: 2.8 )
DLR' s 10-Year Price/Peter Lynch Fair Value Range
Min: 2.5   Max: 10
Current: 2.8
2.5
10
Price/Graham Number 2
DLR's Price/Graham Number is ranked lower than
72% of the 272 Companies
in the Global REIT - Office industry.

( Industry Median: 1.10 vs. DLR: 2 )
DLR' s 10-Year Price/Graham Number Range
Min: 1.7   Max: 3.2
Current: 2
1.7
3.2
Earnings Yield (Greenblatt) 2.90
DLR's Earnings Yield (Greenblatt) is ranked lower than
55% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 3.40 vs. DLR: 2.90 )
DLR' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.4   Max: 4.2
Current: 2.9
1.4
4.2
Forward Rate of Return (Yacktman) 3.85
DLR's Forward Rate of Return (Yacktman) is ranked higher than
81% of the 341 Companies
in the Global REIT - Office industry.

( Industry Median: 0.00 vs. DLR: 3.85 )
DLR' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -17.7   Max: 10.2
Current: 3.85
-17.7
10.2

Business Description

Digital Realty Trust, Inc. is a Maryland corporation, formed on March 9,2004. It completed its initial public offering of common stock on November 3, 2004. It operates as a 'Real Estate Investment Trust'. The Company through its controlling interest in Digital Realty Trust, L.P. 'the Operating Partnership' and the subsidiaries of the Operating Partnership is engaged in the business of owning, acquiring, developing, redeveloping and managing technology-related real estate.Through its operating partnership, at December 31, 2009 it owned 81 properties, excluding one property held as an investment in an unconsolidated joint venture. Its properties are primarily located throughout North America with 13 properties in Europe. Its properties contain a total of approximately 14.4 million net rentable square feet, including approximately 1.8 million square feet held for redevelopment. Its Strength are High-Quality Portfolio that is Difficult to Replicate,resence in Key Market, Proven Ability To Sign New Leases, Demonstrated Acquisition Capability,Flexible Datacenter Solutions, Differentiating Development Advantages,Diverse Tenant Base Across a Variety of Industry Sectors, Experienced and Committed Management Team and Organization and Long-Term Leases That Complement its Growth. Its Objectives are Achieve Superior Returns on Redevelopment Inventory,Capitalize on Acquisition Opportunities, Access and Use Capital Efficiently, Maximize the Cash Flow of its Properties and Leverage Strong Industry Relationships. It competes with numerous developers, owners and operators of real estate and datacenters, many of which own properties similar to them in the same markets in which its properties are located, including DuPont Fabros Technology, Inc., 365 Main Inc., CoreSite and various local developers in the U.S., and Global Switch, Centrum and various regional operators in Europe.Office properties in its submarkets are subject to various laws, ordinances and regulations, including regulations relating to common areas. It believes that each of its properties as of December 31, 2009 has the necessary permits and approvals to operate its business.
Company Website
SEC Reports
Industry: REIT - Office
Compare:FPO, MNRTA, EGP, FR, PLD, DCT, BDN
Traded in other countries:FQI.Germany
» More Articles for DLR

Headlines

Articles On GuruFocus.com
Are we in a REIT bubble? May 21 2013 
The Case for owning Digital Realty Trust (DLR): When Hedge Funds Don’t Know What they are talking May 13 2013 
High Yield REIT Analysis: Omega Healthcare Investors (OHI) Apr 12 2013 
Five Things to Look For in a Real Estate Investment Trust (REIT) Apr 10 2013 
High Dividend Growth REITs: Digital Realty Trust (DLR) Apr 04 2013 
10 Dividend Stocks Balancing Yield and Growth Oct 23 2012 
13 Stocks Using Their Cash to Pay Higher Dividends Feb 20 2012 
Digital Realty Trust, Inc. (DLR) Dividend Stock Analysis Jan 28 2012 
18 Dividend Stocks with Good Yield and Growth Balance Nov 09 2011 
Elite REITs — Five Rising, Dependable Real Estate Dividends: DLR, HCN, OHI, SNH, UBA, UBP Jun 27 2011 

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