What is a data centre REIT?

A data centre REIT (Real Estate Investment Trust) owns and operates data centre properties while passing at least 90% of taxable income to shareholders as dividends. Equinix is the largest at ~$85 billion market cap, followed by Digital Realty at ~$55 billion. Together, publicly traded DC REITs control over 3,000 facilities worldwide and generate $30+ billion in annual revenue. They offer investors liquid exposure to the data centre sector without building or operating facilities directly. REIT structures dominate the colocation market because the asset class delivers predictable, long-term contracted revenue with 95%+ tenant retention rates.