Equity and Capital (Tables)

3 Months Ended

Mar. 31, 2021

Class of Stock

Summary of Components of Noncontrolling Interests

The following table details the components of noncontrolling interests as of March 31, 2021 and December 31, 2020 (in thousands):

	March 31, 2021		December 31, 2020
Noncontrolling interests in operating partnership	$	571,292	$	608,980
Noncontrolling interests in consolidated entities		150,295		119,659
Total noncontrolling interests	$	721,587	$	728,639

Ownership Interest In The Operating Partnership

	March 31, 2021			December 31, 2020
	Number of	Percentage of		Number of	Percentage of
	units	total		units	total
Digital Realty Trust, Inc.	281,372,310	97.3	%	280,289,726	97.2	%
Noncontrolling interests consist of:
Common units held by third parties	5,609,330	2.0	%	6,212,369	2.2	%
Incentive units held by employees and directors	2,131,941	0.7	%	1,833,898	0.6	%
	289,113,581	100.0	%	288,335,993	100.0	%

Summary of Activity for Noncontrolling Interests in the Operating Partnership

The following table shows activity for the noncontrolling interests in the Operating Partnership for the three months ended March 31, 2021:

	Common Units	Incentive Units	Total
As of December 31, 2020	6,212,369	1,833,898	8,046,267
Redemption of common units for shares of Digital Realty Trust, Inc. common stock (1)	(603,039)	—	(603,039)
Conversion of incentive units held by employees and directors for shares of Digital Realty Trust, Inc. common stock (1)	—	(39,151)	(39,151)
Incentive units issued upon achievement of market performance condition	—	219,652	219,652
Grant of incentive units to employees and directors	—	119,418	119,418
Cancellation / forfeitures of incentive units held by employees and directors	—	(1,876)	(1,876)
As of March 31, 2021	5,609,330	2,131,941	7,741,271

(1) These redemptions and conversions were recorded as a reduction to noncontrolling interests in the Operating Partnership and an increase to common stock and additional paid in capital based on the book value per unit in the accompanying consolidated balance sheet of Digital Realty Trust, Inc.

Schedule of Dividends and Distributions

Digital Realty Trust, Inc. Dividends

Digital Realty Trust, Inc. declared and paid the following dividends on its common and preferred stock for the three months ended March 31, 2021 (in thousands, except per share data):

		Series C		Series J		Series K		Series L
		Preferred		Preferred		Preferred		Preferred		Common
Date dividend declared	Dividend payment date	Stock		Stock		Stock		Stock		Stock
February 25, 2021	March 31, 2021	$	3,333	$	2,625	$	3,071	$	4,485	$	326,965
Annual rate of dividend per share		$	1.65625	$	1.31250	$	1.46250	$	1.30000	$	4.64000

Digital Realty Trust, L.P.

Class of Stock

Schedule of Dividends and Distributions

The Operating Partnership has declared and paid the following distributions on its common and preferred units for the three months ended March 31, 2021 (in thousands, except for per unit data):

		Series C		Series J		Series K		Series L
		Preferred		Preferred		Preferred		Preferred		Common
Date distribution declared	Distribution payment date	Units		Units		Units		Units		Units
February 25, 2021	March 31, 2021	$	3,333	$	2,625	$	3,071	$	4,485	$	336,041
Annual rate of distribution per unit		$	1.65625	$	1.31250	$	1.46250	$	1.30000	$	4.64000