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Digital Realty Trust: 4Q Earnings Snapshot

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SAN FRANCISCO (AP) _ Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in San Francisco, said it had funds from operations of $465.2 million, or $1.61 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.52 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 $44.2 million, or 16 cents per share.

The real estate investment trust posted revenue of $1.06 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.03 billion.

For the year, the company reported funds from operations of $1.68 billion, or $6.22 per share. Revenue was reported as $3.9 billion.

Digital Realty Trust expects full-year funds from operations in the range of $6.40 to $6.50 per share, with revenue in the range of $4.25 billion to $4.35 billion.

The company's shares have risen nearly 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $144.82, an increase of 15% in the last 12 months.

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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