As of September 2025, the sector is dominated by a few major players, driven by surging demand from AI and hyperscale data needs. According to recent market data, there are only two primary U.S.-listed data center REITs considered large-cap (above $10 billion market cap), with Equinix leading by a wide margin.
ETF: DTCR Global X Data Center & Digital Infrastructure ETF; holds ~57% in REITs including EQIX and DLR.
by market cap)
Company name Mkt Cap▼1. EQIX Equinix Inc.; $76.3 billion; World's largest data center REIT; operates over 250 facilities globally, serving cloud giants like AWS and Google. Strong growth from AI infrastructure demand, with expected revenue of $8.6 billion in 2025.
2. DLR Digital Realty Trust Inc.; $49.8 billion; Second-largest operator with 300+ data centers; focuses on colocation and hyperscale campuses. Forecasts 5.8% FFO growth in 2025 and a 2.9% dividend yield.
Sources: Market caps derived from FinanceCharts.com (September 2025) and cross-verified with Statista (August 2024 baseline, adjusted for growth trends).
Additional info- Sector Overview: The data center REIT market is projected to benefit from $1.2 trillion in global AI infrastructure spending by 2029, with U.S. REITs showing 21.3% year-over-year FFO growth in Q1 2025. These REITs offer stable dividends (often 2-4% yields) due to long-term leases with tech tenants.
- Smaller/Global Peers: International options like Keppel DC REIT (KPDCF, $2-3 billion) exist but are micro-cap relative to the U.S. leaders. American Tower (AMT) has data center exposure via edge facilities but is primarily a cell tower REIT ($100 billion total cap).
- Investment Tip: For broader exposure, consider
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