AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Austin, Texas, said it had funds from operations of $586.8 million, or $1.73 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.70 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $179.4 million, or 51 cents per share.
The real estate investment trust, based in Austin, Texas, posted revenue of $1.44 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $1.46 billion.
For the year, the company reported funds from operations of $2.22 billion. Revenue was reported as $5.55 billion.
Digital Realty Trust expects full-year funds from operations in the range of $7.05 to $7.15 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLR at https://www.zacks.com/ap/DLR
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.