DLR
Digital Realty Trust, Inc.
Is DLR Halal?
Data-center real estate is generally permissible, but Digital Realty's March 2026 debt/assets ratio is 37.12%, above the examined asset-based limits.
What You Should Know
Digital Realty's March 31, 2026 Form 10-Q reports $48,859.973M of assets, $18,138M of debt, $2,426.631M cash, $1,430.242M accounts and other receivables and $1,635.173M quarterly operating revenue. ZakatInvest calculates debt/assets of 37.12%, liquidity/assets of 4.97% and receivables plus cash/assets of 7.89%. Data centers are generally permissible infrastructure, but the conventional REIT capital structure, swaps, joint ventures and distribution treatment remain material Sharia concerns.
⚠️ Concerns
- •Debt/assets is 37.12%, above the examined FTSE Yasaar, MSCI and Malaysia SAC asset-based limits
- •The REIT uses global revolving facilities, term loans, senior notes and secured debt
- •Interest-rate and cross-currency swaps change the financing profile
- •Joint ventures, Digital Core REIT and asset contributions affect the reported perimeter
- •The filing does not provide a reproducible gross interest-income numerator or fixed purification percentage
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
18,138 / 48,859.973
2,426.631 / 48,859.973
3,856.873 / 48,859.973
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.12%, above the examined 33.333% limit; liquidity is 4.97% and receivables plus cash are 7.89%. Gross interest income is unavailable and the REIT structure remains qualitative.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.12%, above the examined MSCI 33.33% limit. Liquidity and receivables-plus-cash are below their known limits, but the financial screen fails on debt.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.12%, above the examined Malaysia SAC 33% limit. This is a contextual calculation, not an official classification of a U.S.-listed REIT.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed historical market-cap series is not stored, so no unsupported market-cap percentage is substituted for the filing-backed asset calculation.
Business-activity disclosure
Digital Realty owns and operates data centers and related digital infrastructure, a generally permissible real-estate and technology-infrastructure activity. The conventional REIT structure, joint ventures, data-center customer contracts and finance income require qualitative review.
Limitation: The filing does not provide a universal prohibited-revenue numerator or a standalone gross interest-income figure suitable for a fixed purification claim.
Purification
Digital Realty does not separately disclose a reproducible gross interest-income numerator for this quarter and does not prescribe a scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from the unaudited March 31, 2026 Form 10-Q.
- Debt is the disclosed $18,138 million consolidated debt balance; operating lease liabilities are excluded.
- Cash excludes $10.841 million restricted cash. No separate marketable-securities balance is added.
- Accounts and other receivables, net are $1,430.242 million. Deferred rent is not added to avoid treating straight-line rent as a current receivable.
- Total operating revenue was $1,635.173 million for the quarter. The filing reports other income net and interest expense, not a reproducible gross interest-income numerator.
- Digital Realty is a data-center REIT; the underlying real-estate activity is generally permissible, while conventional REIT leverage, swaps and distribution treatment require methodology-specific review.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
Similar Stocks
Want to screen more assets?
Use our interactive Halal Checker to screen any stock, ETF, or crypto instantly.
Go to Halal Checker →