ARE vs BPYPP vs DLR Stock Comparison

Alexandria Real Estate Equities, Brookfield Property Partners and Digital Realty Trust Prices as of Oct 27, 2026 Peers: Industry group
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Head to Head

10 decided of 12

Digital Realty Trust leads on 7 of the 12 questions below (Digital Realty Trust 7, Brookfield Property Partners 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAREBPYPPDLRLeader
Larger companyMarket capitalisation $6.77B $14.48B $63.80B DLR
Cheaper on earningsLower P/E, profitable companies only -4.7x -56.8x 84.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 26.2x 11.2x 62.4x BPYPP
Faster revenue growthRevenue growth, trailing twelve months -9.9% -9.5% +17.4% DLR
More profitableNet margin, trailing twelve months -52.0% -3.6% 11.2% DLR
Better return on capitalReturn on invested capital — 0.0% 2.0% DLR
Less leveragedLower net debt / EBITDA — 6.9x 5.6x DLR
Higher dividend yieldTrailing dividend yield 0.09% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -47.5% -1.7% +0.5% DLR
Better 5-year returnAnnualised price return, 5 years -27.6%/yr -10.2%/yr +2.3%/yr DLR
Less volatileAnnualised volatility, 1 year 50.3% 21.1% 27.6% BPYPP
Higher overall scoreMean of the five percentile scores vs peers 39/100 52/100 45/100 BPYPP

Percentile Scorecard

AREBPYPPDLR

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAREBPYPPDLR
Valuation 74 #38 of 145 92 #13 of 145 10 #10 of 11
Growth 7 #131 of 141 66 #48 of 141 78 #3 of 10
Profitability 14 #115 of 134 19 #109 of 134 11 #9 of 10
Financial Health 72 #39 of 138 52 #67 of 138 80 #3 of 11
Shareholder Returns 29 #94 of 131 30 #92 of 131 –
Overall 39 52 45
  • ARE ranked among 149 companies in Property REITs
  • BPYPP ranked among 149 companies in Property REITs
  • DLR ranked among 11 companies in Infrastructure REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAREBPYPPDLRSPY
1 month -18.1%-0.7%+0.3% -0.2%
3 months -24.3%-5.4%-7.3% +3.9%
6 months +1.1%-7.9%-8.0% +8.2%
Year to date -16.5%+2.4%+15.7% +12.9%
1 year -47.5%-1.7%+0.5% +12.3%
3 years -55.4%+30.0%+46.3% +87.4%
3 years, per year -23.6%+9.1%+13.5% +23.3%
5 years -80.2%-41.7%+11.8% +67.9%
5 years, per year -27.6%-10.2%+2.3% +10.9%
10 years -61.1%—+94.5% +261.1%
10 years, per year -9.0%—+6.9% +13.7%

Risk

MeasureAREBPYPPDLRSPY
Volatility, 1Y 50.3%21.1%27.6% 12.7%
Downside volatility, 1Y 56.8%19.9%27.0% 12.7%
Beta vs S&P 500, 1Y 0.730.400.82 1.00
Return / volatility, 1Y -0.95-0.080.02 0.97
Max drawdown, 5Y -81.9%-56.4%-51.1% -25.4%
From 52-week high -47.5%-10.5%-12.2% -1.2%
52-week high $77.87$16.70$203.91 $779.14
52-week low $40.41$14.38$147.93 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAREBPYPPDLR
P/E now vs peer median -4.9xmedian 26.3x -56.2xmedian 26.3x 83.6xmedian 24.2x
P/S now vs peer median 2.6xmedian 4.0x 2.0xmedian 4.0x 9.8xmedian 6.3x
EV/EBITDA now vs peer median —median 14.4x 10.5xmedian 14.4x 27.5xmedian 15.7x
P/FCF now vs peer median -15.0xmedian 23.3x —median 23.3x -130.7xmedian 18.2x
P/B now vs peer median 0.4xmedian 1.3x 0.3xmedian 1.3x 2.4xmedian 2.4x
PEG now vs peer median 0.05median 1.91 -1.36median 1.91 4.53median 0.72

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAREBPYPPDLR
Revenue $2.76B $7.17B $6.77B
Operating income – – $986.10M
Net income -$1.39B -$113.00M $792.24M
Free cash flow -$473.23M – -$506.74M
EPS (diluted) $-8.40 $-0.27 $2.10
Cash & equivalents $508.86M $1.49B $1.86B
Total debt $12.90B $28.73B $73.26B
Shares (diluted) 170.75M 960.29M 361.54M
Enterprise value -$819.35M $7.14B $52.75B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAREBPYPPDLR
P/E -4.9x -56.2x 83.6x
P/FCF -15.0x – -130.7x
P/Operating cash flow 6.0x – 22.3x
P/S 2.6x 2.0x 9.8x
P/B 0.4x 0.3x 2.4x
P/Tangible book 0.4x 0.3x 2.6x
EV/EBITDA – 10.5x 27.5x
EV/EBIT – 11.5x 84.2x
EV/Revenue 6.5x 5.8x 12.3x
EV/FCF -37.8x – -163.8x
EV/Operating cash flow 15.0x – 28.0x
PEG (3Y EPS CAGR) 0.05 -1.36 4.53

Growth

14 metrics
MetricAREBPYPPDLR
Revenue growth (1Y) -9.9% -9.5% 17.4%
Revenue CAGR (3Y) -0.5% -4.1% 9.7%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – – -40.3%
Operating income CAGR (3Y) – – 17.3%
Net income growth (1Y) -339.2% 83.2% -42.6%
Net income CAGR (3Y) -74.6% 62.1% 23.2%
EPS growth (1Y) -239.7% 63.1% -46.0%
EPS CAGR (3Y) -100.7% 41.4% 18.5%
Operating cash flow growth (1Y) -13.7% – 24.9%
Operating cash flow CAGR (3Y) -9.5% – 20.6%
Free cash flow growth (1Y) 33.5% – 19.9%
Free cash flow CAGR (3Y) 43.5% – 26.1%

Profitability

14 metrics
MetricAREBPYPPDLR
Gross margin – – –
EBITDA margin – 55.0% 44.5%
Operating margin – – 14.6%
Pretax margin – 2.7% 7.8%
Net margin -52.0% -3.6% 11.2%
FCF margin -17.1% – -7.5%
Operating cash flow margin 43.0% – 43.8%
Return on equity -6.6% -0.3% 3.1%
Return on assets -3.6% -0.1% 1.6%
Return on invested capital – 0.0% 2.0%
Return on capital employed – 4.1% –
Asset turnover 0.1x 0.1x 0.1x
Cash conversion (OCF / net income) -0.9x – 3.7x
Stock comp / revenue 1.5% – 1.5%

Financial Health

11 metrics
MetricAREBPYPPDLR
Debt / assets 37.9% 28.1% 34.2%
Debt / equity 0.7x 0.7x 0.7x
Net debt / EBITDA – 6.9x 5.6x
Debt / FCF -27.3x – -36.8x
Liabilities / assets 45.9% 58.3% 48.7%
Equity / assets 54.1% 41.7% 51.3%
Interest coverage – 1.1x 2.1x
Current ratio – 0.3x –
Quick ratio – 0.3x –
Cash ratio – 0.1x –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricAREBPYPPDLR
Dividend yield 7.0% 10.9% 2.7%
Net buyback yield – -10.3% -4.5%
Shareholder yield 7.0% 0.7% -1.8%
Payout ratio (earnings) -43.0% – –
Payout ratio (FCF) -126.5% – –
Dividend growth (1Y) -34.4% – –
Dividend CAGR (3Y) -10.2% – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAREBPYPPDLR
Forward P/E 26.2xFY2026 11.2xFY2023 62.4xFY2026
EPS, next fiscal year $1.56FY2026 $1.34FY2023 $2.87FY2026
EPS growth, next FY – – -19.8%FY2026
EPS growth, the year after -150.6% – -12.2%
Revenue, next fiscal year $2.71BFY2026 $7.07BFY2023 $7.40BFY2026
Revenue growth, next FY -8.2%FY2026 – +21.1%FY2026
Revenue growth, the year after -13.7% – +0.6%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAREBPYPPDLR
Held by institutions 97.2% – 100.0%
Institutions holding 595 – 1,325
Change in shares held, QoQ +14.1% – +18.3%
Institutions buying 336 – 745
Institutions selling 191 – 383
Buyers to sellers 1.76 – 1.95

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AREBPYPPDLR
ARE 1.00 0.11 0.17
BPYPP 0.11 1.00 0.20
DLR 0.17 0.20 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARE, BPYPP and DLR?

Digital Realty Trust (DLR) is the largest by market capitalisation: Alexandria Real Estate Equities (ARE) $6.77B, Brookfield Property Partners (BPYPP) $14.48B, Digital Realty Trust (DLR) $63.80B.

Which company is growing faster?

Digital Realty Trust (DLR) grew revenue fastest over the trailing twelve months: Alexandria Real Estate Equities (ARE) -9.9%, Brookfield Property Partners (BPYPP) -9.5%, Digital Realty Trust (DLR) +17.4%.

Which company is more profitable?

Digital Realty Trust (DLR) has the highest net margin (Alexandria Real Estate Equities (ARE) -52.0%, Brookfield Property Partners (BPYPP) -3.6%, Digital Realty Trust (DLR) 11.2%). On return on invested capital, Digital Realty Trust (DLR) leads (Brookfield Property Partners (BPYPP) 0.0%, Digital Realty Trust (DLR) 2.0%).

Which stock has performed better?

Over the past year Digital Realty Trust (DLR) returned the most: Alexandria Real Estate Equities (ARE) -47.5%, Brookfield Property Partners (BPYPP) -1.7%, Digital Realty Trust (DLR) +0.5%. Over five years, Digital Realty Trust (DLR) compounded fastest (Alexandria Real Estate Equities (ARE) -27.6%/yr, Brookfield Property Partners (BPYPP) -10.2%/yr, Digital Realty Trust (DLR) +2.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Alexandria Real Estate Equities (ARE) 0.09%, Brookfield Property Partners (BPYPP) 0.00%, Digital Realty Trust (DLR) 0.00%. Brookfield Property Partners (BPYPP) and Digital Realty Trust (DLR) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Brookfield Property Partners (BPYPP) has been the steadiest (Alexandria Real Estate Equities (ARE) 50.3%, Brookfield Property Partners (BPYPP) 21.1%, Digital Realty Trust (DLR) 27.6%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ARE, BPYPP and DLR?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Digital Realty Trust (DLR) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.