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Equity and Capital (Tables)
6 Months Ended
Jun. 30, 2023
Class of Stock  
Ownership Interest In The Operating Partnership The following table shows the ownership interest in the Operating Partnership as of June 30, 2023 and December 31, 2022 (in thousands):

June 30, 2023

December 31, 2022

Number of

Percentage of

Number of

Percentage of

    

units

    

total

units

    

total

Digital Realty Trust, Inc.

299,240

97.9

%  

291,148

97.9

%

Noncontrolling interests consist of:

 

 

  

 

 

  

Common units held by third parties

 

4,343

 

1.4

%  

4,375

 

1.5

%

Incentive units held by employees and directors (see Note 13. "Incentive Plan")

 

2,140

 

0.7

%  

1,914

 

0.6

%

 

305,723

 

100.0

%  

297,437

 

100.0

%

Summary of Activity for Noncontrolling Interests in the Operating Partnership

The following table shows activity for noncontrolling interests in the Operating Partnership for the six months ended June 30, 2023 (in thousands):

    

Common Units

    

Incentive Units

    

Total

As of December 31, 2022

 

4,375

 

1,914

 

6,289

Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1)

 

(32)

 

(30)

 

(62)

Incentive units issued upon achievement of market performance condition

 

 

128

 

128

Grant of incentive units to employees and directors

 

 

165

 

165

Cancellation / forfeitures of incentive units held by employees and directors

 

 

(37)

 

(37)

As of June 30, 2023

 

4,343

 

2,140

 

6,483

(1)These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid-in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc.

Schedule of Dividends and Distributions

We have declared and paid the following dividends on our common and preferred stock for the six months ended June 30, 2023 (in thousands, except per share data):

Series J

Series K

Series L

Preferred

Preferred

Preferred

Common

Date dividend declared

    

Dividend payment date

    

Stock

    

Stock

    

Stock

Stock

February 22, 2023

March 31, 2023

$

2,625

$

3,071

$

4,485

$

356,214

May 24, 2023

June 30, 2023

2,625

3,071

4,485

365,937

$

5,250

$

6,142

$

8,970

$

722,151

Annual rate of dividend per share

$

1.31250

$

1.46250

$

1.30000

$

4.88000

Digital Realty Trust, L.P.  
Class of Stock  
Schedule of Dividends and Distributions

All distributions on the Operating Partnership’s units are at the discretion of Digital Realty Trust, Inc.’s Board of Directors. The table below shows the distributions declared and paid by the Operating Partnership on its common and preferred units for the six months ended June 30, 2023 (in thousands, except for per unit data):

Series J

Series K

Series L

Preferred

Preferred

Preferred

Common

Date distribution declared

    

Distribution payment date

    

Units

    

Units

Units

Units

February 22, 2023

March 31, 2023

$

2,625

$

3,071

$

4,485

$

364,204

May 24, 2023

June 30, 2023

2,625

3,071

4,485

373,833

$

5,250

$

6,142

$

8,970

$

738,037

Annual rate of distribution per unit

$

1.31250

$

1.46250

$

1.30000

$

4.88000