BXP vs. DLR: BXP vs. Digital Realty Trust Stock Comparison

November 11, 2026

How do BXP (BXP) and Digital Realty Trust (DLR) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

BXP (BXP) and Digital Realty Trust (DLR) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but BXP is classified in Office REITs while DLR is classified in Specialized REITs.

Both BXP (BXP) and Digital Realty Trust (DLR) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Company profile comparison for BXP (BXP) and Digital Realty Trust (DLR)
Profile Item	BXP	DLR
Name	BXP, Inc.	Digital Realty Trust Inc.
Country/Region	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry Group	Equity Real Estate Investment Trusts (REITs)	Equity Real Estate Investment Trusts (REITs)
GICS Industry	Office REITs	Specialized REITs
GICS Sub-Industry	Office REITs	Data Center REITs
Market Capitalization	11.55 billion USD	67.07 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	June 18, 1997	October 29, 2004
Security Type	REIT	REIT

Price Performance

Cumulative Growth

BXP

DLR

GSPC

BXP (BXP) vs. Digital Realty Trust (DLR), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for BXP (BXP) and Digital Realty Trust (DLR). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for BXP (BXP) and Digital Realty Trust (DLR). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
Total Return (1Y)	-3.69%	9.83%
Total Return (3Y, Annualized)	14.23%	15.88%
Total Return (5Y, Annualized)	-5.92%	6.47%

Risk Profile

Drawdown History

BXP

DLR

GSPC

BXP (BXP) vs. Digital Realty Trust (DLR), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for BXP (BXP) and Digital Realty Trust (DLR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
Volatility (1Y, Annualized)	28.10%	28.36%
Beta (5Y)	1.00	0.98
Max Drawdown (5Y)	-62.57%	-48.52%
Avg. Volume (3M)	1.37M	2.14M

Risk-Adjusted Performance

Risk-Return Positioning

BXP and DLR are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
Sharpe Ratio (1Y)	-0.28	0.20
Sortino Ratio (1Y)	-0.40	0.29

Profitability

ROE (TTM)

Both BXP (BXP) at 8.96% and Digital Realty Trust (DLR) at 3.34% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

BXP

Equity Real Estate Investment Trusts (REITs) industry group

8.96%

Max: 22.74%
Q3: 10.54%
BXP: 8.96%
Median: 6.38%
Q1: 1.69%
Min: -10.86%

DLR

Equity Real Estate Investment Trusts (REITs) industry group

3.34%

Max: 22.74%
Q3: 10.54%
Median: 6.38%
DLR: 3.34%
Q1: 1.69%
Min: -10.86%

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their ROE against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Net Margin (TTM)

Neither BXP (BXP) in Equity Real Estate Investment Trusts (REITs) nor Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Operating Margin (TTM)

Neither side reports a meaningful operating margin: for BXP (BXP) in Equity Real Estate Investment Trusts (REITs) and Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Profitability metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
ROE (TTM)	8.96%	3.34%
ROA (TTM)	2.18%	1.59%
Net Margin (TTM)	--	--
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Digital Realty Trust (DLR) at 10.04% sits in the top revenue growth quartile, while BXP (BXP) at 2.19% is closer to the peer norm — faster top-line expansion for DLR.

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their Revenue Growth across different time periods.

EPS Growth

EPS growth isn't a meaningful figure for either BXP (BXP) in Equity Real Estate Investment Trusts (REITs) or Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Growth metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
Revenue Growth (YoY)	2.19%	10.04%
Revenue Growth (3Y CAGR)	3.86%	9.22%
EPS Growth (YoY)	--	--
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

BXP (BXP) at 0.70 keeps current ratio within its industry’s typical mid-range, while Digital Realty Trust (DLR) at 0.58 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for DLR.

BXP

Equity Real Estate Investment Trusts (REITs) industry group

0.70

Max: 4.19
Q3: 2.11
Median: 1.31
BXP: 0.70
Q1: 0.62
Min: 0.06

DLR

Equity Real Estate Investment Trusts (REITs) industry group

0.58

Max: 4.19
Q3: 2.11
Median: 1.31
Q1: 0.62
DLR: 0.58
Min: 0.06

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their current ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Debt / Equity (MRQ)

Digital Realty Trust (DLR) at 0.69 keeps leverage in the lower quartile, while BXP (BXP) at 2.22 sits in the higher-leverage quartile.

BXP

Equity Real Estate Investment Trusts (REITs) industry group

2.22

Max: 2.72
BXP: 2.22
Q3: 1.59
Median: 0.99
Q1: 0.72
Min: 0.20

DLR

Equity Real Estate Investment Trusts (REITs) industry group

0.69

Max: 2.72
Q3: 1.59
Median: 0.99
Q1: 0.72
DLR: 0.69
Min: 0.20

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their debt-to-equity ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Financial Strength Metrics

Financial strength metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
Current Ratio (MRQ)	0.70	0.58
Debt / Equity (MRQ)	2.22	0.69
Net Debt / EBITDA	8.55	5.95

Dividends

Dividend Yield (TTM)

BXP (BXP) at 4.29% pays a yield in its industry’s typical range, while Digital Realty Trust (DLR) at 2.79% falls in the bottom quartile of its peers.

BXP

Equity Real Estate Investment Trusts (REITs) industry group

4.29%

Max: 8.62%
Q3: 5.95%
Median: 4.34%
BXP: 4.29%
Q1: 3.26%
Min: 0.00%

DLR

Equity Real Estate Investment Trusts (REITs) industry group

2.79%

Max: 8.62%
Q3: 5.95%
Median: 4.34%
Q1: 3.26%
DLR: 2.79%
Min: 0.00%

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their dividend yield against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Dividend Payout Ratio (TTM)

An earnings-based payout ratio fits neither BXP (BXP) in Equity Real Estate Investment Trusts (REITs) nor Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Dividend metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
Dividend Yield (TTM)	4.29%	2.79%
Dividend Payout Ratio (TTM)	--	--

Valuation

P/E Ratio (TTM)

P/E ratio is not a meaningful valuation yardstick for either BXP (BXP) in Equity Real Estate Investment Trusts (REITs) or Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

P/S Ratio (TTM)

BXP (BXP) at 3.38 is priced about in line with its industry on P/S ratio, while Digital Realty Trust (DLR) at 9.47 sits in the pricier quartile — DLR costs more per dollar of sales.

BXP

Equity Real Estate Investment Trusts (REITs) industry group

3.38

Max: 14.47
Q3: 8.02
Median: 5.98
BXP: 3.38
Q1: 3.27
Min: 0.43

DLR

Equity Real Estate Investment Trusts (REITs) industry group

9.47

Max: 14.47
DLR: 9.47
Q3: 8.02
Median: 5.98
Q1: 3.27
Min: 0.43

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their P/S ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both BXP (BXP) at 2.00 and Digital Realty Trust (DLR) at 2.39 are valued close to their industries’ norm against book — neither stands out from peers.

BXP

Equity Real Estate Investment Trusts (REITs) industry group

2.00

Max: 4.06
Q3: 2.53
BXP: 2.00
Median: 1.64
Q1: 1.06
Min: 0.21

DLR

Equity Real Estate Investment Trusts (REITs) industry group

2.39

Max: 4.06
Q3: 2.53
DLR: 2.39
Median: 1.64
Q1: 1.06
Min: 0.21

BXP (BXP) vs. Digital Realty Trust (DLR): A comparison of their P/B ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Valuation Metrics

Valuation metrics for BXP (BXP) and Digital Realty Trust (DLR)
Metric	BXP	DLR
P/E Ratio (TTM)	--	--
P/S Ratio (TTM)	3.38	9.47
P/B Ratio (MRQ)	2.00	2.39
Free Cash Flow Yield (TTM)	--	--