OVERLAND PARK, Kan. (AP) _ QTS Realty Trust Inc. (QTS) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The Overland Park, Kansas-based real estate investment trust said it had funds from operations of $35.4 million, or 64 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 64 cents 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 $4.8 million, or 10 cents per share.
The data center real estate investment trust posted revenue of $105.4 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $104.8 million.
For the year, the company reported funds from operations of $54 million, or $2.61 per share. Revenue was reported as $402.4 million.
QTS Realty expects full-year funds from operations in the range of $2.64 to $2.76 per share.
The company's shares have climbed roughly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $51.06, an increase of 20 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QTS at https://www.zacks.com/ap/QTS
Keywords: QTS Realty, Earnings Report