DIGITAL REALTY TRUST, INC. vs Ventas, Inc., two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Ventas collects rent from senior-housing and medical buildings; Digital Realty collects it from data halls, two landlords riding very different demand curves, aging demographics against AI compute. Both post the sky-high P/Es that REIT depreciation produces, 161.9 and 51.3, and are better judged on cash: Ventas yields 2.16% with a 3.97% free-cash figure, Digital Realty 3.73% free cash with a slim payout. Digital Realty is the larger and faster-growing at $68B against Ventas's $43B. Ventas's tailwind is the demographic certainty of an older population needing care; Digital Realty's is the capacity race of cloud and AI. The comparison holds a healthcare landlord leveraged to occupancy against a digital landlord leveraged to bandwidth, both real-estate businesses whose growth stories come from outside real estate entirely.
Comparison updated 2026-07-11.
| Metric | DLR | VTR |
|---|---|---|
| Price | $193.23 | $89.03 |
| Market cap | $68.3B | $43.3B |
| Sector | REIT | REIT |
| Stage | Mature | Growth |
| P/E | 51.3 | 161.9 |
| P/B | 2.87 | 3.29 |
| P/S | 10.77 | 7.07 |
| EV/EBITDA | 24.6 | 30.0 |
| Revenue growth | +12.6% | +20.6% |
| Operating margin | 16.4% | — |
| Net margin | 9.3% | 4.4% |
| Return on equity | 2.5% | 2.1% |
| Return on assets | 1.2% | 1.0% |
| Return on invested capital | 2.4% | — |
| FCF yield | 3.7% | 4.0% |
| Dividend yield | — | 2.2% |
| Debt / equity | 0.00 | 0.00 |
| Altman Z (solvency) | 1.69 | 1.67 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.