Digital Realty Trust vs Realty Income (DLR vs O)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Digital Realty Trust is the larger company by revenue ($6.1B vs $5.7B) and market value ($67.9B vs $59.8B). Realty Income has grown revenue faster over the last 4 fiscal years (+176.4% cumulative vs +38.1%). Digital Realty Trust trades at the lower trailing P/E (47.9x vs 52.6x).
About Digital Realty Trust
Digital Realty Trust, Inc. is a global provider of data center, colocation, and interconnection solutions. The company owns, acquires, develops, and operates data centers across multiple continents, serving enterprises and service providers of various sizes. Its services support digital infrastructure needs, enabling customers to deploy critical IT infrastructure with global coverage and connectivity.
About Realty Income
Realty Income Corporation is a real estate investment trust that acquires, owns, and manages freestanding commercial properties leased under long-term net lease agreements. The company serves a diversified base of clients, including investment grade and creditworthy operators, primarily in the United States, the United Kingdom, and Europe. Its portfolio includes retail properties and other commercial real estate types, and it focuses on generating stable rental income through properties important to its clients' operations.
Head to head (DLR FY2025 vs O FY2025)
| Metric | DLRFY2025 | OFY2025 |
|---|---|---|
| Revenue | $6.11B | $5.75B |
| Revenue growth (YoY) | 10.0% | 9.1% |
| Gross margin | — | — |
| Operating margin | 10.8% | — |
| Net margin | 21.4% | 18.4% |
| Net income | $1.31B | $1.06B |
| Diluted EPS | $3.58 | $1.17 |
| FCF margin | — | — |
| ROE | — | 2.6% |
| Debt / equity | — | — |
| Market cap | $67.88B | $59.84B |
| P/E (TTM) | 47.9× | 52.6× |
Fundamentals are from each company’s SEC filings (DLR FY2025, O FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DLR | $4.43B | $4.69B | $5.48B | $5.55B | $6.11B |
| O | $2.08B | $3.34B | $4.08B | $5.27B | $5.75B |
Peer standing
Where each company ranks among the 165 REITs, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | DLR | O |
|---|---|---|
| Net margin | 21.4%68th percentile of 156 | 18.4%63rd percentile of 156 |
| Revenue growth (YoY) | +10.0%78th percentile of 161 | +9.1%75th percentile of 161 |
| P/E (TTM) | 47.9×79th percentile of 108 | 52.6×80th percentile of 108 |
| Short interest (days to cover) | 1.95d22nd percentile of 154 | 6.19d87th percentile of 154 |
Short interest
| FINRA settlement data | DLR | O |
|---|---|---|
| Shares sold short | 8.1M | 43.5M |
| Change vs prior settlement | -0.3% | +16.5% |
| Days to cover | 1.95 | 6.19 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Held by the same investors
8 tracked 13F managers hold both Digital Realty Trust and Realty Income as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Renaissance Technologies, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.