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Equity and Capital (Tables)
12 Months Ended
Dec. 31, 2024
Class of Stock  
Schedule of stock by class

The Company has issued and outstanding the following series of cumulative redeemable preferred stock, which are governed by the articles supplementary for the applicable series of preferred stock as of December 31, 2024 and 2023 (in thousands, except for share cap and annual dividend rate).

    

Total

Annual

Shares Outstanding as of

Balance (net of issuance costs)

Date(s)

Initial Date to

Liquidation

Dividend

December 31, 

 as of December 31, 

Preferred Stock (1)

    

Issued

    

Redeem (2)

    

Share Cap (3)

    

Value (4)

    

Rate (5)

    

2024

    

2023

    

2024

    

2023

5.250% Series J Cumulative Redeemable Preferred Stock

Aug 7, 2017

Aug 7, 2022

 

0.4252100

$

200,000

 

1.31250

 

8,000

 

8,000

$

193,540

$

193,540

5.850% Series K Cumulative Redeemable Preferred Stock

Mar 13, 2019

Mar 13, 2024

0.4361100

210,000

1.46250

8,400

8,400

203,264

203,264

5.200% Series L Cumulative Redeemable Preferred Stock

Oct 10, 2019

Oct 10, 2024

0.3851800

345,000

1.30000

13,800

13,800

334,886

334,886

$

755,000

 

30,200

 

30,200

$

731,690

$

731,690

(1)All series of preferred stock do not have a stated maturity date and are not subject to any sinking fund or mandatory redemption provisions. Upon liquidation, dissolution or winding up, each series of preferred stock will rank senior to Digital Realty Trust, Inc. common stock and on parity with the other series of preferred stock. Holders of each series of preferred stock generally have no voting rights except for limited voting rights if Digital Realty Trust, Inc. fails to pay dividends for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.
(2)Except in limited circumstances, reflects earliest date that Digital Realty Trust, Inc. may exercise its option to redeem the preferred stock, at a redemption price of $25.00 per share, plus accrued and unpaid dividends up to but excluding the date of redemption.
(3)Upon the occurrence of specified changes of control, as a result of which neither Digital Realty Trust, Inc.’s common stock nor the common securities of the acquiring or surviving entity (or American Depositary Receipts representing such securities) is listed on the New York Stock Exchange, the NYSE MKT, LLC or the NASDAQ Stock Market or listed or quoted on a successor exchange or quotation system, each holder of preferred stock will have the right (unless, prior to the change of control conversion date specified in the applicable Articles Supplementary governing the preferred stock, Digital Realty Trust, Inc. has provided or provides notice of its election to redeem the preferred stock) to convert some or all of the preferred stock held by it into a number of shares of Digital Realty Trust, Inc.’s common stock per share of preferred stock to be converted equal to the lesser of (i) the quotient obtained by dividing (a) the sum of the $25.00 liquidation preference plus the amount of any accrued and unpaid dividends to, but not including, the change of control conversion date (unless the change of control conversion date is after a record date for a preferred stock dividend payment and prior to the corresponding dividend payment date, in which case no additional amount for such accrued and unpaid dividend will be included in this sum) by (b) the common stock price specified in the applicable Articles Supplementary governing the preferred stock; and (ii) the Share Cap, subject to certain adjustments; subject, in each case, to provisions for the receipt of alternative consideration as described in the applicable Articles Supplementary governing the preferred stock. Except in connection with specified change of control transactions, the preferred stock is not convertible into
or exchangeable for any other property or securities of Digital Realty Trust, Inc.
(4)Liquidation preference is $25.00 per share.
(5)Dividends on preferred shares are cumulative and payable quarterly in arrears.
Ownership Interest In The Operating Partnership

December 31, 2024

December 31, 2023

Number of

Percentage of

Number of

Percentage of

(Units in thousands)

    

units

    

total

units

    

total

Digital Realty Trust, Inc.

336,637

98.2

%  

311,608

98.0

%

Noncontrolling interests consist of:

 

 

  

 

 

  

Common units held by third parties

 

4,049

 

1.2

%  

4,343

 

1.3

%

Incentive units held by employees and directors (see Note 16. ''Incentive Plans'')

 

2,086

 

0.6

%  

2,106

 

0.7

%

 

342,772

 

100.0

%  

318,057

 

100.0

%

Summary of Activity for Noncontrolling Interests in the Operating Partnership

(Units in thousands)

    

Common Units

    

Incentive Units

    

Total

As of December 31, 2023

 

4,343

 

2,106

 

6,449

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

 

(294)

 

(259)

 

(553)

Incentive units issued upon achievement of market performance condition

 

 

88

 

88

Grant of incentive units to employees and directors

 

 

155

 

155

Cancellation / forfeitures of incentive units held by employees and directors

 

 

(4)

 

(4)

As of December 31, 2024

 

4,049

 

2,086

 

6,135

(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 sheets of Digital Realty Trust, Inc.
Schedule of Dividends and Distributions

Dividends and Distributions

Digital Realty Trust, Inc. Dividends

We have declared and paid the following dividends on our common and preferred stock for the years ended December 31, 2024, 2023 and 2022 (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

March 3, 2022

March 31, 2022

$

2,625

$

3,071

$

4,485

$

348,025

(1)

May 24, 2022

June 30, 2022

2,625

3,071

4,485

348,077

(1)

August 17, 2022

September 30, 2022

2,625

3,071

4,485

351,410

(1)

November 29, 2022

December 31, 2022 for Preferred Stock; January 13, 2023 for Common Stock

2,625

3,071

4,485

355,832

(1)

$

10,500

$

12,284

$

17,940

$

1,403,344

February 22, 2023

March 31, 2023

$

2,625

$

3,071

$

4,485

$

356,214

(1)

May 24, 2023

June 30, 2023

2,625

3,071

4,485

365,937

(1)

August 8, 2023

September 29, 2023

2,625

3,071

4,485

370,278

(1)

November 28, 2023

December 29, 2023 for Preferred Stock; January 19, 2024 for Common Stock

2,625

3,071

4,485

380,019

(1)

$

10,500

$

12,284

$

17,940

$

1,472,448

February 28, 2024

March 28, 2024

$

2,625

$

3,071

$

4,485

$

382,208

(1)

May 8, 2024

June 28, 2024

2,625

3,071

4,485

397,429

(1)

August 7, 2024

September 30, 2024

2,625

3,071

4,485

400,659

(1)

November 4, 2024

December 31, 2024 for Preferred Stock; January 17, 2025 for Common Stock

2,625

3,071

4,485

410,831

(1)

$

10,500

$

12,284

$

17,940

$

1,591,127

Annual rate of dividend per share

$

1.31250

$

1.46250

$

1.30000

$

4.88000

(1)$4.880 annual rate of dividend per share.
Digital Realty Trust, L.P.  
Class of Stock  
Schedule of Dividends and Distributions

Digital Realty Trust, L.P. 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 years ended December 31, 2024, 2023 and 2022, (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

March 3, 2022

March 31, 2022

$

2,625

$

3,071

$

4,485

$

355,812

(1)

May 24, 2022

June 30, 2022

2,625

3,071

4,485

355,885

(1)

August 17, 2022

September 30, 2022

2,625

3,071

4,485

359,207

(1)

November 29, 2022

December 31, 2022 for Preferred Units; January 13, 2023 for Common Units

2,625

3,071

4,485

363,616

(1)

$

10,500

$

12,284

$

17,940

$

1,434,520

February 22, 2023

March 31, 2023

$

2,625

$

3,071

$

4,485

$

364,204

(1)

May 24, 2023

June 30, 2023

2,625

3,071

4,485

373,833

(1)

August 8, 2023

September 29, 2023

2,625

3,071

4,485

378,352

(1)

November 28, 2023

December 29, 2023 for Preferred Units; January 19, 2024 for Common Units

2,625

3,071

4,485

387,988

(1)

$

10,500

$

12,284

$

17,940

$

1,504,377

February 28, 2024

March 28, 2024

$

2,625

$

3,071

$

4,485

$

390,356

(1)

May 8, 2024

June 28, 2024

2,625

3,071

4,485

405,421

(1)

August 7, 2024

September 30, 2024

2,625

3,071

4,485

408,577

(1)

November 4, 2024

December 29, 2023 for Preferred Units; January 19, 2024 for Common Units

2,625

3,071

4,485

418,665

(1)

$

10,500

$

12,284

$

17,940

$

1,623,019

Annual rate of distribution per unit

$

1.31250

$

1.46250

$

1.30000

$

4.88000

(1)$4.880 annual rate of distribution per unit.