AUSTIN, Texas (AP) _ Digital Realty Trust Inc. (DLR) on Tuesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Austin, Texas, said it had funds from operations of $479.2 million, or $1.65 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.62 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 $124.1 million, or 44 cents per share.
The real estate investment trust posted revenue of $1.13 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.1 billion.
Digital Realty Trust expects full-year funds from operations in the range of $6.50 to $6.55 per share, with revenue in the range of $4.4 billion to $4.43 billion.
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
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