8 High Growth Real Estate Stocks That Are Profitable in 2024

2. Digital Realty Trust, Inc. (NYSE:DLR)

5-Year Net Income Growth: 28.87%

5-Year Revenue Growth: 10.86%

TTM Net Income: $1.08 Billion

Number of Hedge Fund Holders: 44

Digital Realty Trust, Inc. (NYSE:DLR) owns, operates, and invests in carrier-neutral data centers. The firm brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. The firm was incorporated in Maryland in March 2004.

Digital Realty Trust, Inc. (NYSE:DLR) has an extensive global data center footprint of over 300 facilities in more than 50 metros across over 25 countries on six continents. The growth pattern for the firm has also been strong with 20 years of consecutive revenue growth. The firm’s leading data center platform benefits from the growing global demand from a diversified customer base while digital transformation is expected to drive a stronger demand.

The continued strength of demand for data center capacity was evident in DLR’s recent quarterly results as it marked one of the top quarters in its history with $164 million of new leasing executed in Q2. The firm reported revenues of $1.4 billion, a 2% increase from the previous quarter. With record new log-ins and near-record bookings in each of the zero-to-one-megawatt and interconnection categories, the company also recorded one of the strongest quarters ever in the zero-to-one-megawatt plus interconnection segment.

With a leading global data center platform and a growing global demand from a diversified customer base, Digital Realty Trust, Inc. (NYSE:DLR) is poised to grow. The firm also has durable competitive advantages in the form of a global footprint catering to the full customer spectrum. As of Q2, the stock is held by 44 hedge funds.