Data center REITs own the physical layer of the AI economy, and 2026 is their best demand year on record: record bookings, multi-hundred-megawatt AI leases, and power scarcity turning existing capacity into a seller’s market. Only two names dominate the public category, ranked below under the published methodology with live data.
| # | REIT | Grade | Yield | Market Cap | Occupancy | Credit |
|---|---|---|---|---|---|---|
| 1 | Equinix (EQIX) | B 84 | 1.87% | $103.7B | — | BBB |
| 2 | Digital Realty Trust (DLR) | B 78 | 2.70% | $63.4B | — | BBB |
Grades follow the published REIT Rankings methodology. Yields and market caps update automatically with market data.
How to Read This Ranking
Equinix edges Digital Realty on business quality: interconnection network effects, 2% churn, and a dividend growing double digits at a 59% payout. Digital Realty wins on direct AI leverage: wholesale megawatts, a $1.8 billion backlog, and faster current revenue growth, with a valuation that pays you more to hold it. Both carry the sector’s structural risks: capital intensity, power constraints, and hyperscaler self-build.