[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![RHouseResearch Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1923064392289050624.png) Rittenhouse Research [@RHouseResearch](/creator/twitter/RHouseResearch) on x 1494 followers
Created: 2025-06-28 15:55:40 UTC

As further evidence of the dilemma faced by legacy data center owner and operators, consider Digital Realty Trust $DLR. 

$DLR's footnotes to its 10-K confirm that the vast majority of their data centers were constructed or acquired two decades ago!

In addition, $DLR reported an occupancy of XXXX% as of Dec. - 2024. CBRE just put out a report estimating a global data center occupancy rate of XXXX% (6.6% vacancy). 

$DLR's occupancy rates being much below the broader market suggest that its data centers are not suited for AI use-cases and GPUs. 

$DLR's 2024 revenue was essentially flat from 2023. This is despite spending ~$2B in net CapEx!

![](https://pbs.twimg.com/media/GuiqlmBWUAE_1hg.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1938989684673134975/c:line.svg)

**Related Topics**
[dec](/topic/dec)
[10k](/topic/10k)
[$dlrs](/topic/$dlrs)
[$dlr](/topic/$dlr)
[digital realty trust](/topic/digital-realty-trust)
[stocks real estate](/topic/stocks-real-estate)

[Post Link](https://x.com/RHouseResearch/status/1938989684673134975)