Digital Realty (DLR) Q3 2026 Earnings Call Transcript

Digital Realty’s Q3 2026 call highlighted growth across leasing, occupancy and capital markets activity. Core FFO per share rose to $2.10, up 11% year over year, supported by strong leasing commencements and higher fee income. Total bookings reached $855 million in annualized GAAP base rent, including a quarterly record for Digital Realty’s share of $627 million. The company reported 0–1 MW+ bookings of $152 million at its share, and greater-than-1 MW leasing of $689 million total ($474 million at share), with pricing at a record high watermark. Backlog totaled $2.5 billion ($1.8 billion at share), providing visibility through 2028, while stabilized occupancy climbed to 93.4%. Cash NOI guidance was raised for 2026, and the company said it has 1.5 GW under construction with 63% pre-leasing. Liquidity and a raised Core FFO range also featured, alongside a debt issuance of $1.7 billion at about a 4% blended coupon.