Digital Realty Trust (NYSE: DLR) is a real estate investment trust (REIT) that owns and operates data center properties. It makes money by leasing space, power, and interconnection capacity inside its data centers to tenants under long-term contracts. The company is organized as a Maryland corporation and operates through its operating partnership, Digital Realty Trust, L.P. Its common stock is listed on the New York Stock Exchange. The 10-K filed February 13, 2026 covers the fiscal year ended December 31, 2025. The filing is structured as a combined report for both Digital Realty Trust, Inc. (the parent) and Digital Realty Trust, L.P. (the operating partnership), with the parent consolidating the operating partnership for financial reporting purposes.

Revenue model

Revenue is generated through leasing data center space and associated services, including power and interconnection, to tenants under lease agreements. As a REIT, the company distributes the majority of its taxable income to shareholders.

Products and services

Data center colocation space, powered shell capacity, interconnection services, and related data center facilities made available to tenants under lease arrangements.

Customers and end markets

The filing excerpts do not provide specific customer names, customer concentration data, or end-market breakdowns. Tenants are enterprises and other organizations requiring data center infrastructure.

Value-chain role

Data center owner and operator. Sits between real estate capital and technology infrastructure consumers, providing physical space, power, and connectivity to tenants who house their IT equipment in Digital Realty facilities.

Geographic exposure

The filing excerpts do not specify geographic revenue breakdown or property counts by region.

Source: SEC 10-K, filed 2026-02-13

Industry: Real Estate Investment Trusts Peers: American Tower Corp Crown Castle Inc Equinix Inc Extra Space Storage Inc Iron Mountain Inc Public Storage SBA Communications Corp VICI Properties Inc Weyerhaeuser Co