DLR vs. WELL: Digital Realty Trust vs. Welltower Stock Comparison

July 7, 2026

How do Digital Realty Trust (DLR) and Welltower (WELL) 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

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

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

Company profile comparison for Digital Realty Trust (DLR) and Welltower (WELL)
Profile Item	DLR	WELL
Name	Digital Realty Trust, Inc.	Welltower 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	Specialized REITs	Health Care REITs
GICS Sub-Industry	Data Center REITs	Health Care REITs
Market Capitalization	65.36 billion USD	164.26 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 29, 2004	March 19, 1980
Security Type	REIT	REIT

Price Performance

Cumulative Growth

DLR

WELL

GSPC

Digital Realty Trust (DLR) vs. Welltower (WELL), 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 Digital Realty Trust (DLR) and Welltower (WELL). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
Total Return (1Y)	3.54%	54.66%
Total Return (3Y, Annualized)	18.53%	45.55%
Total Return (5Y, Annualized)	6.23%	25.32%

Risk Profile

Drawdown History

DLR

WELL

GSPC

Digital Realty Trust (DLR) vs. Welltower (WELL), 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 Digital Realty Trust (DLR) and Welltower (WELL). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
Volatility (1Y, Annualized)	23.92%	22.28%
Beta (5Y)	1.04	0.77
Max Drawdown (5Y)	-48.52%	-40.78%
Avg. Volume (3M)	2.65M	3.41M

Risk-Adjusted Performance

Risk-Return Positioning

DLR and WELL 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 Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
Sharpe Ratio (1Y)	-0.02	2.28
Sortino Ratio (1Y)	-0.03	3.45

Profitability

ROE (TTM)

Both Digital Realty Trust (DLR) at 5.69% and Welltower (WELL) at 3.67% 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: 9.86%
Median: 5.86%
DLR: 5.69%
Q1: 1.38%
Min: -9.66%

WELL

Equity Real Estate Investment Trusts (REITs) industry group

3.67%

Max: 21.85%
Q3: 9.86%
Median: 5.86%
WELL: 3.67%
Q1: 1.38%
Min: -9.66%

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

Net Margin (TTM)

Neither Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) 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 Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) and Welltower (WELL) 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 Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
ROE (TTM)	5.69%	3.67%
ROA (TTM)	1.26%	0.74%
Net Margin (TTM)	--	--
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

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

Revenue Growth Metrics

Revenue growth metrics for Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
Revenue Growth (YoY)	10.04%	35.82%
Revenue Growth (3Y CAGR)	9.22%	22.69%

EPS Growth

Digital Realty Trust (DLR) vs. Welltower (WELL): A comparison of their EPS Growth across different time periods.

EPS Growth Metrics

EPS growth metrics for Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
EPS Growth (YoY)	--	--
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

Both Digital Realty Trust (DLR) at 1.23 and Welltower (WELL) at 1.65 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

1.23

Max: 4.00
Q3: 1.93
DLR: 1.23
Median: 0.98
Q1: 0.46
Min: 0.08

WELL

Equity Real Estate Investment Trusts (REITs) industry group

1.65

Max: 4.00
Q3: 1.93
WELL: 1.65
Median: 0.98
Q1: 0.46
Min: 0.08

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

Debt / Equity (MRQ)

Both Digital Realty Trust (DLR) at 0.77 and Welltower (WELL) at 0.44 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

0.77

Max: 2.53
Q3: 1.51
Median: 1.04
Q1: 0.77
DLR: 0.77
Min: 0.19

WELL

Equity Real Estate Investment Trusts (REITs) industry group

0.44

Max: 2.53
Q3: 1.51
Median: 1.04
Q1: 0.77
WELL: 0.44
Min: 0.19

Digital Realty Trust (DLR) vs. Welltower (WELL): 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 Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
Current Ratio (MRQ)	1.23	1.65
Debt / Equity (MRQ)	0.77	0.44
Net Debt / EBITDA	5.88	5.11

Dividends

Dividend Yield (TTM)

Both Digital Realty Trust (DLR) at 2.82% and Welltower (WELL) at 1.25% offer bottom-quartile dividend income relative to share price versus industry peers.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

2.82%

Max: 8.88%
Q3: 5.56%
Median: 4.01%
Q1: 3.15%
DLR: 2.82%
Min: 0.00%

WELL

Equity Real Estate Investment Trusts (REITs) industry group

1.25%

Max: 8.88%
Q3: 5.56%
Median: 4.01%
Q1: 3.15%
WELL: 1.25%
Min: 0.00%

Digital Realty Trust (DLR) vs. Welltower (WELL): 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 Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) 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 Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
Dividend Yield (TTM)	2.82%	1.25%
Dividend Payout Ratio (TTM)	--	--

Valuation

P/E 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 Welltower (WELL) 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)

Both Digital Realty Trust (DLR) at 10.35 and Welltower (WELL) at 13.96 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

10.35

Max: 15.51
DLR: 10.35
Q3: 8.88
Median: 6.59
Q1: 3.75
Min: 0.82

WELL

Equity Real Estate Investment Trusts (REITs) industry group

13.96

Max: 15.51
WELL: 13.96
Q3: 8.88
Median: 6.59
Q1: 3.75
Min: 0.82

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

P/B Ratio (MRQ)

Both Digital Realty Trust (DLR) at 2.68 and Welltower (WELL) at 3.74 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

2.68

Max: 4.82
DLR: 2.68
Q3: 2.67
Median: 1.78
Q1: 1.20
Min: 0.35

WELL

Equity Real Estate Investment Trusts (REITs) industry group

3.74

Max: 4.82
WELL: 3.74
Q3: 2.67
Median: 1.78
Q1: 1.20
Min: 0.35

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

Valuation Metrics

Valuation metrics for Digital Realty Trust (DLR) and Welltower (WELL)
Metric	DLR	WELL
P/E Ratio (TTM)	--	--
P/S Ratio (TTM)	10.35	13.96
P/B Ratio (MRQ)	2.68	3.74
Free Cash Flow Yield (TTM)	--	--