Digital Realty Trust: Q4 Earnings Snapshot

AUSTIN, Texas (AP) — 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 Austin, Texas-based real estate investment trust said it had funds from operations of $508.4 million, or $1.63 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.64 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 $18.1 million, or 8 cents per share.

The real estate investment trust, based in Austin, Texas, posted revenue of $1.37 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $1.4 billion.

For the year, the company reported funds from operations of $2.01 billion. Revenue was reported as $5.48 billion.

Digital Realty Trust expects full-year funds from operations in the range of $6.60 to $6.75 per share.

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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