QTS Realty: 3Q Earnings Snapshot
OVERLAND PARK, Kan. (AP) _ QTS Realty Trust Inc. (QTS) on Monday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Overland Park, Kansas-based real estate investment trust said it had funds from operations of $39.8 million, or 65 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 62 cents 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 a loss of $408,000, or 1 cent per share.
The data center real estate investment trust posted revenue of $125.3 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $120 million.
QTS Realty expects full-year revenue in the range of $470 million to $480 million.
The company’s shares have climbed 44% since the beginning of the year. In the final minutes of trading on Monday, shares hit $53.53, a rise of 35% in the last 12 months.