Digital Realty Trust: Q4 Earnings Snapshot

February 17, 2022 GMT

AUSTIN, Texas (AP) _ Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.

The real estate investment trust, based in Austin, Texas, said it had funds from operations of $486.5 million, or $1.67 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.68 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 $1.06 billion, or $3.71 per share.

The real estate investment trust posted revenue of $1.11 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $1.1 billion.

For the year, the company reported funds from operations of $1.89 billion, or $6.53 per share. Revenue was reported as $4.43 billion.

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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