Digital Realty Trust: Q1 Earnings Snapshot
AUSTIN, Texas (AP) _ Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The Austin, Texas-based real estate investment trust said it had funds from operations of $484.5 million, or $1.67 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.67 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 $63.1 million, or 22 cents per share.
The real estate investment trust posted revenue of $1.13 billion in the period, which also matched Street forecasts.
Digital Realty Trust expects full-year funds from operations in the range of $6.80 to $6.90 per share, with revenue in the range of $4.7 billion to $4.8 billion.