Subtext

Digital Realty Trust, Inc. DLR

SectorReal Estate
Transcripts37
Date range2016-04-29 – 2025-04-24
Calls charted37

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-21-10+0+10+212016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Overall: +6.02016 Q2 · Overall: +8.22016 Q3 · Overall: +8.02016 Q4 · Overall: +12.52017 Q1 · Overall: +7.72017 Q2 · Overall: +6.22017 Q3 · Overall: +8.32017 Q4 · Overall: +6.32018 Q1 · Overall: +7.02018 Q2 · Overall: +5.82018 Q3 · Overall: +7.62018 Q4 · Overall: +5.42019 Q1 · Overall: +4.82019 Q2 · Overall: +9.22019 Q3 · Overall: +9.22019 Q4 · Overall: +8.22020 Q1 · Overall: +2.62020 Q2 · Overall: +9.22020 Q3 · Overall: +6.12020 Q4 · Overall: +10.12021 Q1 · Overall: +5.72021 Q2 · Overall: +11.32021 Q3 · Overall: +1.92021 Q4 · Overall: +7.52022 Q1 · Overall: +3.32022 Q2 · Overall: +5.42022 Q3 · Overall: +6.62022 Q4 · Overall: +15.62023 Q1 · Overall: +14.42023 Q2 · Overall: +18.12023 Q3 · Overall: +13.22023 Q4 · Overall: +10.82024 Q1 · Overall: +4.32024 Q2 · Overall: +7.72024 Q3 · Overall: +6.12024 Q4 · Overall: +11.92025 Q1 · Overall: +9.4
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-33-16+0+16+332016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · CEO: +8.22016 Q2 · CEO: +12.32016 Q3 · CEO: +13.82016 Q4 · CEO: +18.12017 Q1 · CEO: +12.82017 Q2 · CEO: +8.32017 Q4 · CEO: +8.32018 Q1 · CEO: +6.22018 Q2 · CEO: +8.72019 Q2 · CEO: +14.72019 Q3 · CEO: +14.12019 Q4 · CEO: +15.32020 Q1 · CEO: +8.42020 Q2 · CEO: +11.02020 Q3 · CEO: +7.82020 Q4 · CEO: +22.42021 Q1 · CEO: +15.12021 Q2 · CEO: +14.22021 Q3 · CEO: -4.22021 Q4 · CEO: +10.32022 Q1 · CEO: +12.12022 Q2 · CEO: +12.02022 Q3 · CEO: +17.62022 Q4 · CEO: +20.62023 Q1 · CEO: +15.42023 Q2 · CEO: +21.02023 Q3 · CEO: +17.82023 Q4 · CEO: +16.32024 Q1 · CEO: +12.52024 Q2 · CEO: +10.72024 Q3 · CEO: +7.22024 Q4 · CEO: +18.82025 Q1 · CEO: +20.12016 Q1 · CFO: +9.42016 Q2 · CFO: +8.92016 Q3 · CFO: +6.62016 Q4 · CFO: +9.22017 Q1 · CFO: +10.12017 Q2 · CFO: +7.22017 Q3 · CFO: +10.62017 Q4 · CFO: +7.02018 Q1 · CFO: +10.12018 Q2 · CFO: +7.62018 Q3 · CFO: +9.82018 Q4 · CFO: +6.22019 Q1 · CFO: +7.72019 Q2 · CFO: +8.02020 Q1 · CFO: -0.72020 Q2 · CFO: +9.52020 Q3 · CFO: +7.32020 Q4 · CFO: +9.52021 Q1 · CFO: +5.12021 Q2 · CFO: +10.22021 Q3 · CFO: +6.82021 Q4 · CFO: +4.32022 Q1 · CFO: +0.92022 Q2 · CFO: +2.72022 Q3 · CFO: +6.82022 Q4 · CFO: +19.72023 Q1 · CFO: +21.52023 Q2 · CFO: +21.42023 Q3 · CFO: +16.72023 Q4 · CFO: +10.32024 Q1 · CFO: +28.42024 Q2 · CFO: +12.42024 Q3 · CFO: +10.52024 Q4 · CFO: +13.82025 Q1 · CFO: +14.4
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Prepared remarks: +9.72016 Q2 · Prepared remarks: +13.12016 Q3 · Prepared remarks: +10.72016 Q4 · Prepared remarks: +18.12017 Q1 · Prepared remarks: +11.02017 Q2 · Prepared remarks: +14.82017 Q3 · Prepared remarks: +10.12017 Q4 · Prepared remarks: +10.22018 Q1 · Prepared remarks: +11.72018 Q2 · Prepared remarks: +10.42018 Q3 · Prepared remarks: +8.82018 Q4 · Prepared remarks: +8.62019 Q1 · Prepared remarks: +10.62019 Q2 · Prepared remarks: +11.72019 Q3 · Prepared remarks: +13.72019 Q4 · Prepared remarks: +14.02020 Q1 · Prepared remarks: +4.42020 Q2 · Prepared remarks: +10.92020 Q3 · Prepared remarks: +8.72020 Q4 · Prepared remarks: +18.12021 Q1 · Prepared remarks: +14.62021 Q2 · Prepared remarks: +13.82021 Q3 · Prepared remarks: +10.22021 Q4 · Prepared remarks: +14.02022 Q1 · Prepared remarks: +13.72022 Q2 · Prepared remarks: +14.72022 Q3 · Prepared remarks: +14.72022 Q4 · Prepared remarks: +26.22023 Q1 · Prepared remarks: +18.12023 Q2 · Prepared remarks: +26.22023 Q3 · Prepared remarks: +19.82023 Q4 · Prepared remarks: +18.52024 Q1 · Prepared remarks: +14.52024 Q2 · Prepared remarks: +14.52024 Q3 · Prepared remarks: +14.02024 Q4 · Prepared remarks: +23.82025 Q1 · Prepared remarks: +20.22016 Q1 · Q&A responses: +7.92016 Q2 · Q&A responses: +9.72016 Q3 · Q&A responses: +9.52016 Q4 · Q&A responses: +11.82017 Q1 · Q&A responses: +10.02017 Q2 · Q&A responses: +4.32017 Q3 · Q&A responses: +11.22017 Q4 · Q&A responses: +6.12018 Q1 · Q&A responses: +6.92018 Q2 · Q&A responses: +6.72018 Q3 · Q&A responses: +10.62018 Q4 · Q&A responses: +4.32019 Q1 · Q&A responses: +4.62019 Q2 · Q&A responses: +10.32019 Q3 · Q&A responses: +12.02019 Q4 · Q&A responses: +6.72020 Q1 · Q&A responses: +2.72020 Q2 · Q&A responses: +10.32020 Q3 · Q&A responses: +7.12020 Q4 · Q&A responses: +9.82021 Q1 · Q&A responses: +3.02021 Q2 · Q&A responses: +13.92021 Q3 · Q&A responses: +5.52021 Q4 · Q&A responses: +4.62022 Q1 · Q&A responses: +0.22022 Q2 · Q&A responses: +2.72022 Q3 · Q&A responses: +4.22022 Q4 · Q&A responses: +14.52023 Q1 · Q&A responses: +14.92023 Q2 · Q&A responses: +17.02023 Q3 · Q&A responses: +12.62023 Q4 · Q&A responses: +11.02024 Q1 · Q&A responses: +11.02024 Q2 · Q&A responses: +7.92024 Q3 · Q&A responses: +5.32024 Q4 · Q&A responses: +10.72025 Q1 · Q&A responses: +9.8
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.97$1.45$1.932016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: $1.042016 Q2: $1.202016 Q3: $1.412016 Q4: $1.502017 Q1: $1.672017 Q2: $1.852017 Q3: $1.862017 Q4: $1.812018 Q1: $1.572018 Q2: $1.422018 Q3: $1.342018 Q4: $1.362019 Q1: $1.362019 Q2: $1.442019 Q3: $1.432019 Q4: $1.632020 Q1: $1.312020 Q2: $1.732020 Q3: $1.582020 Q4: $1.192021 Q1: $1.312021 Q2: $1.862021 Q3: $1.752021 Q4: $1.552022 Q1: $1.282022 Q2: $1.402022 Q3: $1.512022 Q4: $1.212023 Q1: $1.102023 Q2: $1.192023 Q3: $1.212023 Q4: $1.142024 Q1: $1.272024 Q2: $1.502024 Q3: $1.43

Forward P/E

58.2091.33124.462016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: 83.922016 Q2: 83.622016 Q3: 65.402016 Q4: 63.022017 Q1: 62.772017 Q2: 63.322017 Q3: 65.342017 Q4: 63.712018 Q1: 67.182018 Q2: 74.782018 Q3: 90.472018 Q4: 79.792019 Q1: 85.432019 Q2: 86.412019 Q3: 87.622019 Q4: 71.422020 Q1: 104.442020 Q2: 84.352020 Q3: 95.062020 Q4: 108.892021 Q1: 102.612021 Q2: 84.722021 Q3: 89.032021 Q4: 109.922022 Q1: 106.512022 Q2: 92.422022 Q3: 77.002022 Q4: 86.482023 Q1: 95.912023 Q2: 89.022023 Q3: 105.742023 Q4: 119.892024 Q1: 113.552024 Q2: 100.042024 Q3: 110.47

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2017 Q1 tone ↓ -4.8 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -2.2 fwd EPS ↑ +0.02 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q4 tone ↑ +4.0 fwd EPS ↓ -0.39 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↓ -4.4 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↑ +5.6 fwd EPS ↓ -0.20 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↑ +9.1 fwd EPS ↓ -0.30 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -4.9 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -6.6 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-24+9.4——View →
2024 Q42025-02-13+11.9——View →
2024 Q32024-10-24+6.1$1.43110.5View →
2024 Q22024-07-25+7.7$1.50100.0View →
2024 Q12024-05-02+4.3$1.27113.5View →
2023 Q42024-02-15+10.8$1.14119.9View →
2023 Q32023-10-26+13.2$1.21105.7View →
2023 Q22023-07-27+18.1$1.1989.0View →