DLR vs. O: Digital Realty Trust vs. Realty Income Stock Comparison
This page compares Digital Realty Trust (DLR) with Realty Income (O) using performance and risk, profitability, financial strength, growth, dividends, and valuation metrics.
Performance
Cumulative Growth
Trailing Returns
Performance at a Glance
| Metric | DLR | O |
|---|---|---|
| 1-Year Return | 7.39% | 14.25% |
Risk
Drawdown
Risk at a Glance
| Metric | DLR | O |
|---|---|---|
| 1-Year Volatility | 22.81% | 16.24% |
| Beta | 1.03 | 0.72 |
| 3-Month Avg. Volume | 2.04M | 5.86M |
Company Profile
Digital Realty Trust (DLR) and Realty Income (O) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but DLR is classified in Specialized REITs while O is classified in Retail REITs.
Both Digital Realty Trust (DLR) and Realty Income (O) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.
| Profile Item | DLR | O |
|---|---|---|
| Name | Digital Realty Trust, Inc. | Realty Income Corporation |
| 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 | Specialized REITs | Retail REITs |
| GICS Sub-Industry | Data Center REITs | Retail REITs |
| Market Capitalization | 65.89 billion USD | 58.49 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | October 29, 2004 | October 18, 1994 |
| Security Type | REIT | REIT |
Valuation
Price-to-Earnings Ratio (TTM)
P/E ratio is not a meaningful valuation yardstick for either Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) or Realty Income (O) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.
Price-to-Sales Ratio (TTM)
Both Digital Realty Trust (DLR) at 10.44 and Realty Income (O) at 9.86 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
10.44
- Max
- 15.01
- DLR
- 10.44
- Q3
- 8.66
- Median
- 6.65
- Q1
- 3.87
- Min
- 0.60
O
Equity Real Estate Investment Trusts (REITs) industry group
9.86
- Max
- 15.01
- O
- 9.86
- Q3
- 8.66
- Median
- 6.65
- Q1
- 3.87
- Min
- 0.60
Price-to-Book Ratio (MRQ)
Realty Income (O) at 1.49 is valued about in line with its industry on P/B ratio, while Digital Realty Trust (DLR) at 2.84 carries an above-peer premium to book — DLR is pricier on assets.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
2.84
- Max
- 4.20
- DLR
- 2.84
- Q3
- 2.66
- Median
- 1.74
- Q1
- 1.16
- Min
- 0.33
O
Equity Real Estate Investment Trusts (REITs) industry group
1.49
- Max
- 4.20
- Q3
- 2.66
- Median
- 1.74
- O
- 1.49
- Q1
- 1.16
- Min
- 0.33
Valuation at a Glance
| Metric | DLR | O |
|---|---|---|
| Price-to-Earnings Ratio (TTM) | -- | -- |
| Price-to-Sales Ratio (TTM) | 10.44 | 9.86 |
| Price-to-Book Ratio (MRQ) | 2.84 | 1.49 |
| Free Cash Flow Yield | -- | -- |
Profitability
Return on Equity (TTM)
Both Digital Realty Trust (DLR) at 5.69% and Realty Income (O) at 2.83% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
5.69%
- Max
- 21.85%
- Q3
- 9.82%
- Median
- 5.84%
- DLR
- 5.69%
- Q1
- 1.39%
- Min
- -9.66%
O
Equity Real Estate Investment Trusts (REITs) industry group
2.83%
- Max
- 21.85%
- Q3
- 9.82%
- Median
- 5.84%
- O
- 2.83%
- Q1
- 1.39%
- Min
- -9.66%
Net Profit Margin (TTM)
Neither Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) nor Realty Income (O) 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 Profit Margin (TTM)
Neither side reports a meaningful operating margin: for Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) and Realty Income (O) 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 at a Glance
| Metric | DLR | O |
|---|---|---|
| Return on Equity (TTM) | 5.69% | 2.83% |
| Return on Assets (TTM) | 1.26% | 2.31% |
| Net Profit Margin (TTM) | -- | -- |
| Operating Profit Margin (TTM) | -- | -- |
| Gross Profit Margin (TTM) | -- | -- |
Growth
Revenue Growth
Revenue Growth at a Glance
| Metric | DLR | O |
|---|---|---|
| 1-Year Revenue Growth | 10.04% | 9.07% |
| 3-Year Revenue CAGR | 9.22% | 19.80% |
EPS Growth
EPS Growth at a Glance
| Metric | DLR | O |
|---|---|---|
| 1-Year EPS Growth | -- | -- |
| 3-Year EPS CAGR | -- | -- |
Financial Strength
Current Ratio (MRQ)
Digital Realty Trust (DLR) at 1.23 keeps current ratio within its industry’s typical mid-range, while Realty Income (O) at 2.06 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
1.23
- Max
- 4.00
- Q3
- 1.92
- DLR
- 1.23
- Median
- 1.04
- Q1
- 0.47
- Min
- 0.08
O
Equity Real Estate Investment Trusts (REITs) industry group
2.06
- Max
- 4.00
- O
- 2.06
- Q3
- 1.92
- Median
- 1.04
- Q1
- 0.47
- Min
- 0.08
Debt-to-Equity Ratio (MRQ)
Realty Income (O) at 0.73 keeps leverage in the lower industry quartile, while Digital Realty Trust (DLR) at 0.77 runs a more typical debt-to-equity mix.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
0.77
- Max
- 2.63
- Q3
- 1.55
- Median
- 1.04
- DLR
- 0.77
- Q1
- 0.75
- Min
- 0.19
O
Equity Real Estate Investment Trusts (REITs) industry group
0.73
- Max
- 2.63
- Q3
- 1.55
- Median
- 1.04
- Q1
- 0.75
- O
- 0.73
- Min
- 0.19
Financial Strength at a Glance
| Metric | DLR | O |
|---|---|---|
| Current Ratio (MRQ) | 1.23 | 2.06 |
| Debt-to-Equity Ratio (MRQ) | 0.77 | 0.73 |
| Net Debt / EBITDA | 5.88 | 5.72 |
Dividends
Dividend Yield (TTM)
Realty Income (O) at 5.18% pays a yield in its industry’s typical range, while Digital Realty Trust (DLR) at 2.65% falls in the bottom quartile of its peers.
DLR
Equity Real Estate Investment Trusts (REITs) industry group
2.65%
- Max
- 8.05%
- Q3
- 5.81%
- Median
- 4.33%
- Q1
- 3.39%
- DLR
- 2.65%
- Min
- 0.00%
O
Equity Real Estate Investment Trusts (REITs) industry group
5.18%
- Max
- 8.05%
- Q3
- 5.81%
- O
- 5.18%
- Median
- 4.33%
- Q1
- 3.39%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
An earnings-based payout ratio fits neither Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) nor Realty Income (O) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.
Dividends at a Glance
| Metric | DLR | O |
|---|---|---|
| Dividend Yield (TTM) | 2.65% | 5.18% |
| Dividend Payout Ratio (TTM) | -- | -- |