Digital Realty Trust: Q1 Earnings Snapshot

April 28, 2022 GMT

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.

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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