DIGITAL REALTY TRUST, INC. vs WELLTOWER INC., two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Welltower at $165B is the giant of healthcare real estate; Digital Realty at $68B is a leading data-center landlord, and both are priced for growth the P/E cannot show. Welltower trades at 113 times earnings and Digital Realty at 51, multiples inflated by the non-cash depreciation REITs add back to reach funds from operations; the market pays both for expansion, Welltower into senior housing, Digital Realty into server capacity. Welltower runs a conservative 0.40 turns of debt, Digital Realty carries heavier data-center leverage and yields a bit more free cash, 3.73%. Welltower's payout is 1.24%. The pair sets demographic growth against digital growth: Welltower bets on an aging population filling its communities, Digital Realty on hyperscalers filling its racks, two landlords whose futures are written by tenants the real-estate market does not control.
Comparison updated 2026-07-11.
| Metric | DLR | WELL |
|---|---|---|
| Price | $193.23 | $227.28 |
| Market cap | $68.3B | $165.1B |
| Sector | REIT | REIT |
| Stage | Mature | Growth |
| P/E | 51.3 | 113.1 |
| P/B | 2.87 | 3.69 |
| P/S | 10.77 | 14.03 |
| EV/EBITDA | 24.6 | 80.3 |
| Revenue growth | +12.6% | +37.5% |
| Operating margin | 16.4% | — |
| Net margin | 9.3% | 12.4% |
| Return on equity | 2.5% | 3.3% |
| Return on assets | 1.2% | 2.2% |
| Return on invested capital | 2.4% | — |
| FCF yield | 3.7% | 1.8% |
| Dividend yield | — | 1.2% |
| Debt / equity | 0.00 | 0.40 |
| Altman Z (solvency) | 1.69 | 4.86 |
| Piotroski F (quality) | 8 / 9 | 7 / 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.