DALLAS (AP) — DALLAS (AP) — Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $656 million, or $1.89 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.78 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 $57.6 million, or 15 cents per share.
The real estate investment trust, based in Dallas, posted revenue of $1.58 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.52 billion.
Digital Realty Trust expects full-year funds from operations in the range of $7.32 to $7.38 per share, with revenue in the range of $6.03 billion to $6.08 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
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