Digital Realty Trust (DLR) PT Raised to $210 at Stifel

Stifel analyst Erik Rasmussen raised the price target on Digital Realty Trust (NYSE: DLR) to $210.00 (from $205.00) while maintaining a Buy rating.

The analyst comments "Digital Realty reported Q3 results that again beat across the board. While leasing remains relatively subdued, vs. a robust demand environment (company is capacity constrained until 2H26 and into 2027 when large contiguous blocks come online), Q3 results were bolstered by another strong performance in the 0-1MW/+ Interconnection category. Backlog remains elevated at $852M, and the commencement schedule is set up for multi-year growth. Renewal pricing came in at 8.0% (cash basis) and the annual guide was raised by 50bps. The company raised its revenue guidance (+$75M), its Adj. EBITDA ($75M), and CFFO/sh (+$0.15 to $7.35/ sh at the midpoint, or +9.5% y/y), and is seeing a robust pipeline of demand from AI oriented use cases. At the end of 3Q, the company’s gross development pipeline was ~$9.7B (11.6% stabilized yield), and there was 5GW of buildable capacity (land, shell, DC under construction) supported by $15B+ of private capital. PT to $210."

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