<p>数字房地产信托（Digital Realty Trust，DLR）刚刚发布了超出预期的财报，并上调了全年指引，这一及时的更新正值其向人工智能数据中心投入资本并加深与新加坡 Oracle Cloud 连接等合作关系之际。</p>
<p>查看我们对数字房地产信托的最新分析。</p>
<p>这些强劲的收益和新的 Oracle 举措是在经历了一段波动期后出现的，年初至今股价下跌了 8.05%。然而，62.91% 的三年总股东回报显示长期动能依然强劲。</p>
<p>如果人工智能基础设施在你的关注范围内，现在是一个很好的时机来看看数字房地产与其他高增长科技和人工智能股票的比较，这些股票可能会受益于同样的需求浪潮。</p>
<p>尽管指引上调和人工智能投资加速，股价仍低于分析师目标，投资者面临一个关键问题：这是以折扣价购买数字房地产的难得机会，还是市场已经在定价其未来增长？</p>
<h2>最受欢迎的叙述：低估 18.3%</h2>
<p>数字房地产信托最受关注的叙述将公允价值定为每股约 199.22 美元，而最后收盘价为 162.76 美元。这显示出一个可观的上行空间。</p>
<blockquote>
<p><em>数字房地产首个美国超大规模基金的成功成立预计将推动未来增长，投资额可达 100 亿美元，从而通过费用提升收入和回报，突显其对长期收益可持续性的重大潜在影响。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>好奇一个激进的增长管道、缩小的利润率和高昂的未来收益倍数如何仍能加总出更高的公允价值？叙述详细阐述了这一目标的确切收入路径、盈利能力重置和估值桥梁。</p>
<p><strong>结果：公允价值 199.22 美元（低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，关键美国市场的供应可能超过需求，以及更高的融资成本可能会削弱租赁动能，并对数字房地产的长期利润率构成压力。</p>
<p>了解数字房地产信托叙述的主要风险。</p>
<h2>估值的另一种视角</h2>
<p>分析师和叙述认为有上行空间，但我们的估值检查显示出更具风险的图景。数字房地产的市盈率为 41.1 倍，而行业平均为 27.9 倍，公允比率为 28.9 倍，这表明投资者已经在为未来的人工智能增长支付溢价。</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/4dd44010-f20c-4335-b9f8-39a840f24645/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/4dd44010-f20c-4335-b9f8-39a840f24645/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的纽约证券交易所：DLR 市盈率</p>
<h2>构建你自己的数字房地产信托叙述</h2>
<p>如果你对数字有不同的看法或想要测试自己的假设，只需几分钟即可构建个性化的数字房地产视图，按你的方式进行。</p>
<p>进行数字房地产信托研究的一个很好的起点是我们的分析，强调 5 个关键收益和 3 个重要警示信号，这些可能会影响你的投资决策。</p>
<h2>准备好更多投资想法了吗？</h2>
<p>使用 Simply Wall St 筛选器来精准定位符合你策略的新机会，这样你就不必仅依赖一个人工智能基础设施故事。</p>
<ul>
<li>通过瞄准这些 3589 只财务状况良好的低价股，捕捉潜在的反转故事，这些股票的低股价与改善的基本面相结合，具有重新评级的空间。</li>
<li>通过关注这 27 只人工智能低价股，提前布局下一波技术浪潮，这些股票可能会受益于人工智能基础设施和应用的全球扩展。</li>
<li>通过这些 894 只基于现金流的低估股票锁定有吸引力的入场点，我们的模型标记这些股票的交易价格低于其估计的内在价值。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

数字房地产信托

<p>数字房地产信托 (DLR) 报告的收益超出预期，提升了全年指引，并正在扩展人工智能就绪的数据中心。尽管股价下跌，但长期回报依然强劲。分析师认为 DLR 被低估，公允价值为每股 199.22 美元，暗示有上涨潜力。然而，高市盈率和市场风险可能会影响未来增长。投资者被鼓励在人工智能基础设施扩展的背景下评估 DLR 的估值和增长前景</p>

<p>Digital Realty Trust (DLR) just delivered better than expected earnings and raised its full year guidance, a timely update as it pours capital into AI ready data centers and deepens partnerships such as its new Oracle Cloud connectivity in Singapore.</p>
<div class="lb-trans"><p>数字房地产信托（Digital Realty Trust，DLR）刚刚发布了超出预期的财报，并上调了全年指引，这一及时的更新正值其向人工智能数据中心投入资本并加深与新加坡 Oracle Cloud 连接等合作关系之际。</p>
</div><p>See our latest analysis for Digital Realty Trust.</p>
<div class="lb-trans"><p>查看我们对数字房地产信托的最新分析。</p>
</div><p>Those stronger earnings and fresh Oracle initiatives come after a choppy stretch, with the share price down 8.05% year to date. Yet a 62.91% three year total shareholder return shows long term momentum is still very much intact.</p>
<div class="lb-trans"><p>这些强劲的收益和新的 Oracle 举措是在经历了一段波动期后出现的，年初至今股价下跌了 8.05%。然而，62.91% 的三年总股东回报显示长期动能依然强劲。</p>
</div><p>If AI ready infrastructure is on your radar, now is a good moment to see how Digital Realty compares with other high growth tech and AI stocks that could benefit from the same demand wave.</p>
<div class="lb-trans"><p>如果人工智能基础设施在你的关注范围内，现在是一个很好的时机来看看数字房地产与其他高增长科技和人工智能股票的比较，这些股票可能会受益于同样的需求浪潮。</p>
</div><p>With shares still below analyst targets despite upgraded guidance and accelerating AI investments, investors face a key question: is this a rare chance to buy Digital Realty at a discount, or is the market already pricing in its future growth?</p>
<div class="lb-trans"><p>尽管指引上调和人工智能投资加速，股价仍低于分析师目标，投资者面临一个关键问题：这是以折扣价购买数字房地产的难得机会，还是市场已经在定价其未来增长？</p>
</div><h2>Most Popular Narrative: 18.3% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：低估 18.3%</h2>
</div><p>Digital Realty Trust's most followed narrative pegs fair value at about $199.22 per share versus a last close of $162.76. This frames a sizable upside gap.</p>
<div class="lb-trans"><p>数字房地产信托最受关注的叙述将公允价值定为每股约 199.22 美元，而最后收盘价为 162.76 美元。这显示出一个可观的上行空间。</p>
</div><blockquote>
<p><em>The successful formation of Digital Realty's first U.S. hyperscale fund is expected to fuel future growth with up to $10 billion in investments, leading to enhanced revenue and returns through fees, highlighting its significant potential impact on long term earnings sustainability.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>数字房地产首个美国超大规模基金的成功成立预计将推动未来增长，投资额可达 100 亿美元，从而通过费用提升收入和回报，突显其对长期收益可持续性的重大潜在影响。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Curious how one aggressive growth pipeline, shrinking margins, and a lofty future earnings multiple can still add up to a higher fair value? The narrative walks through the exact revenue path, profitability reset, and valuation bridge that justify this target.</p>
<div class="lb-trans"><p>好奇一个激进的增长管道、缩小的利润率和高昂的未来收益倍数如何仍能加总出更高的公允价值？叙述详细阐述了这一目标的确切收入路径、盈利能力重置和估值桥梁。</p>
</div><p><strong>Result: Fair Value of $199.22 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值 199.22 美元（低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, supply potentially outpacing demand in key U.S. markets and higher financing costs could undermine leasing momentum and pressure Digital Realty's long-term margin profile.</p>
<div class="lb-trans"><p>然而，关键美国市场的供应可能超过需求，以及更高的融资成本可能会削弱租赁动能，并对数字房地产的长期利润率构成压力。</p>
</div><p>Find out about the key risks to this Digital Realty Trust narrative.</p>
<div class="lb-trans"><p>了解数字房地产信托叙述的主要风险。</p>
</div><h2>Another Lens on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种视角</h2>
</div><p>Analysts and narratives see upside, but our valuation checks flag a riskier picture. Digital Realty trades on a 41.1x price to earnings ratio versus a 27.9x industry average and a fair ratio of 28.9x, suggesting investors are already paying up for future AI growth.</p>
<div class="lb-trans"><p>分析师和叙述认为有上行空间，但我们的估值检查显示出更具风险的图景。数字房地产的市盈率为 41.1 倍，而行业平均为 27.9 倍，公允比率为 28.9 倍，这表明投资者已经在为未来的人工智能增长支付溢价。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/4dd44010-f20c-4335-b9f8-39a840f24645/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/4dd44010-f20c-4335-b9f8-39a840f24645/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:DLR PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的纽约证券交易所：DLR 市盈率</p>
</div><h2>Build Your Own Digital Realty Trust Narrative</h2>
<div class="lb-trans"><h2>构建你自己的数字房地产信托叙述</h2>
</div><p>If you see the numbers differently or want to stress test your own assumptions, build a personalized view of Digital Realty in just minutes, Do it your way.</p>
<div class="lb-trans"><p>如果你对数字有不同的看法或想要测试自己的假设，只需几分钟即可构建个性化的数字房地产视图，按你的方式进行。</p>
</div><p>A great starting point for your Digital Realty Trust research is our analysis highlighting 5 key rewards and 3 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>进行数字房地产信托研究的一个很好的起点是我们的分析，强调 5 个关键收益和 3 个重要警示信号，这些可能会影响你的投资决策。</p>
</div><h2>Ready for more investment ideas?</h2>
<div class="lb-trans"><h2>准备好更多投资想法了吗？</h2>
</div><p>Use the Simply Wall St Screener to pinpoint fresh opportunities that match your strategy, so you are not relying on just one AI infrastructure story.</p>
<div class="lb-trans"><p>使用 Simply Wall St 筛选器来精准定位符合你策略的新机会，这样你就不必仅依赖一个人工智能基础设施故事。</p>
</div><ul>
<li>Capture potential turnaround stories by targeting these 3589 penny stocks with strong financials that pair low share prices with improving fundamentals and room for re-rating.</li>
<li>Position ahead of the next technology wave by focusing on these 27 AI penny stocks that could benefit as AI infrastructure and applications scale globally.</li>
<li>Lock in attractive entry points with these 894 undervalued stocks based on cash flows that our models flag as trading below their estimated intrinsic value.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过瞄准这些 3589 只财务状况良好的低价股，捕捉潜在的反转故事，这些股票的低股价与改善的基本面相结合，具有重新评级的空间。</li>
<li>通过关注这 27 只人工智能低价股，提前布局下一波技术浪潮，这些股票可能会受益于人工智能基础设施和应用的全球扩展。</li>
<li>通过这些 894 只基于现金流的低估股票锁定有吸引力的入场点，我们的模型标记这些股票的交易价格低于其估计的内在价值。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们基于历史数据和分析师预测提供评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

数字房地产信托（DLR）：盈利超预期、指引上调以及 AI 数据中心扩张后的估值检查