☒Quarterly Report Pursuant to Section 13 or 15(d) of the SecuritiesExchange Act of 1934 For the quarterly period endedMarch31,2025 ☐Transition Report Pursuant to Section 13 or 15(d) of the SecuritiesExchange Act of 1934 For the Transition Period Fromto.Commission file number001-32336(Digital Realty Trust, Inc.)000-54023(Digital Realty Trust, L.P.) DIGITAL REALTY TRUST, INC.DIGITAL REALTY TRUST, L.P.(Exact name of registrant as specified in its charter) 26-0081711 Maryland(Digital Realty Trust, Inc.)Maryland(Digital Realty Trust, L.P.)(State or other jurisdiction ofincorporation or organization) 20-2402955(IRS employeridentification number) 2323 Bryan Street, Suite 1800Dallas,Texas75201(Address of principal executive offices) (214)231-1350(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classCommon StockSeries J Cumulative Redeemable PreferredStockSeries K Cumulative RedeemablePreferred StockSeries L Cumulative Redeemable PreferredStock Indicate by check mark whether the registrant (1)has filed all reports required to be filed bySection13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90 days. Digital Realty Trust, Inc.Digital Realty Trust, L.P. Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files). Digital Realty Trust, Inc.Digital Realty Trust, L.P. Yes⌧No◻Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of“large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Digital Realty Trust, Inc.: Digital Realty Trust, L.P.: If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standardsprovided pursuant to Section 13(a) of the Exchange Act. Digital Realty Trust, Inc.◻Digital Realty Trust, L.P.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theExchange Act). Digital Realty Trust, Inc.Yes☐No⌧Digital Realty Trust, L.P.Yes☐No⌧ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of thelatest practicable date. Digital Realty Trust, Inc.: ClassOutstanding at April 28, 2025Common Stock, $.01 par value per share336,791,489 EXPLANATORY NOTE This report combines the quarterly reports on Form10-Q for the quarter ended March31,2025 ofDigital Realty Trust,Inc., a Maryland corporation, and Digital Realty Trust,L.P., a Maryland limitedpartnership, of which Digital Realty Trust,Inc. is the sole general partner. Unless otherwise indicatedor unless the context requires otherwise, all references in this report to “we,” “us,” “our,” “ourCompany”, or “the Company” refer to Digital Realty Trust, Inc. together with its consolidatedsubsidiaries, including Digital Realty Trust, L.P. In statements regarding qualification as a REIT, suchterms refer solely to Digital Realty Trust, Inc. Unless otherwise indicated or unless the contextrequires otherwise, all references to the “Parent” refer to Digital Realty Trust, Inc., and all referencesto “our Operating Partnership,” “the Operating Partnership” or “the OP” refer to Digital Realty Trust,L.P. together with its consolidated subsidiaries. The Parent is a real estate investment trust, or REIT, for U.S. federal income tax purposes and thesole general partner of the OP. As of March31,2025, the Parent owned an approximate 98.1%common general partnership interest in Digital Realty Trust, L.P. The remaining approximate 1.9% ofthe common limited partnership interests of Digital Realty Trust, L.P. are owned by non-affiliatedthird parties and certain directors and officers of the Parent. As of March31,2025, the Parent ownedall of the preferred limited partnership interests of Digital Realty Trust, L.P. As the sole generalpartner of Digital Realty Trust, L.P., the Parent has the full, exclusive and complete responsibility forthe OP’s day-to-day management and control. We believe combining the quarterly reports on Form10-Q of the Parent and the OP into this singlereport results in the following benefits: ●enhancing investors’ understanding of the Parent and the OP by enabling investors to viewthe business as a whole in the same manner as management views and operates the business;●eliminating duplicative disclosure and pr