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STOCK COMPARISON

Digital Realty Trust vs Realty Income: Fair Value & Quality

Both stocks run through our valuation models. Here is how Digital Realty Trust (DLR) and Realty Income (O) compare, as of Oct 22, 2026.

As of Oct 22, 2026, Fair Value Calculator sees Realty Income as the more attractively valued of the two: Digital Realty Trust trades at $176 versus a fair value of $128 (−27.5%), while Realty Income trades at $55.35 versus $87.93 (+58.9%).
Digital Realty Trust
DLR · USD · Real Estate
−27.5%
upside to fair value
overvalued
Price$176
Fair Value$128
Quality50/100
Realty Income
O · USD · Real Estate
+58.9%
upside to fair value
undervalued
Price$55.35
Fair Value$87.93
Quality48/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Digital Realty TrustRealty Income
Valuation
84.0×P/E (TTM)41.4×
112.0×P/E ex one-offs (FY2025)46.1×
63.8×Forward P/E (FY2027)35.6×
66.7×Median P/E at FY-end (ex one-offs where documented)47.1×
9.38×P/S (TTM)8.68×
2.76×P/B1.34×
24.4×EV/EBITDA14.7×
11.72×PEG2.85×
−27.5%Fair value upside+58.9%
2.8%Dividend yield5.7%
$4.88Dividend per share$3.24
Profitability
25.9%Operating margin47.0%
0.76×EBIT margin trend (5Y)0.59×
2.9%Return on equity3.2%
2.7%Return on assets1.5%
Growth
29.9%Revenue growth (YoY)9.6%
9.2%Avg. growth/yr (3Y)19.8%
9.4%Avg. growth/yr (5Y)28.4%
+12.0%Value creation/yr+4.6%
Balance & size
1.5×Interest coverage (EBIT/interest)1.4×
0.80×Debt / equity0.68×
$63BMarket cap$53B
expensiveGrowth qualityhealthy
The P/E excluding one-off items is scored: for at least one of the two companies, special items (write-downs, restructuring, litigation) move the reported P/E by 15 % or more. The trailing P/E is shown for reference.
Digital Realty Trust, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 6 of the years ex one-offs: 66.7. Realty Income, median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2021, FY2024, FY2025 ex one-offs: 47.1.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Realty Income leads: 4 to 12 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Digital Realty Trust Realty Income
ProfitabilityHow much profit the company makes from its sales and capital
33
28
Quality GrowthAre margins and returns getting better?
64
34
CashflowDo the profits arrive as real cash?
72
100
Financial strengthDebt, balance sheet and risk of trouble
39
39
InvestmentDoes it invest with discipline instead of growing at any price?
48
58
Low VolatilityHow calm the share price moves, does not count
67
90
MomentumPrice trend of the last 3 to 12 months, does not count
39
30
Near the 52-week highDistance to the 52-week high, does not count
47
23
New sharesBuys back shares or issues new ones?
39
24

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyDigital Realty TrustPrice $176Realty IncomePrice $55.35
DCF Models−27.5%below the price$128+58.9%above the price$87.93
Dividend Discount−55.3%below the price$78.81+6.0%close to the price$58.68
Multiples−66.0%below the price$59.96−46.4%below the price$29.67
Asset-Based−88.7%below the price$20.01−56.0%below the price$24.37
Growth DCF−46.5%below the price$94.27+157.3%above the price$142
Economic Profit−71.6%below the price$50.14−45.6%below the price$30.11
Minimum−88.7%below the price$20.01−56.0%below the price$24.37
Maximum−27.5%below the price$128+157.3%above the price$142
Median−60.6%below the price$69.38−19.8%below the price$44.40
Geometric mean−64.8%below the price$62.06−9.3%close to the price$50.20

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Digital Realty Trust: 14 of 14 models see the stock below the current price.

Realty Income: 8 of 14 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Digital Realty Trust
Price $176
Fair Value $128
Bear $49.62Bull $231
Realty Income
Price $55.35
Fair Value $87.93
Bear $33.84Bull $160

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Digital Realty Trust · Real Estate

Quality score50 · below median
Fair value upside−27.5% · below median

Realty Income · Real Estate

Quality score48 · below median
Fair value upside+58.9% · above median

Bottom line

As of Oct 22, 2026, Fair Value Calculator sees Realty Income as the more attractively valued of the two: Digital Realty Trust trades at $176 versus a fair value of $128 (−27.5%), while Realty Income trades at $55.35 versus $87.93 (+58.9%).

Digital Realty Trust has the higher quality score (50/100).

Open Realty Income live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.