AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Austin, Texas, said it had funds from operations of $767.9 million, or $2.13 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.98 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 $443.1 million, or $1.21 per share.
The real estate investment trust, based in Austin, Texas, posted revenue of $1.92 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.66 billion.
Digital Realty Trust expects full-year funds from operations in the range of $8.15 to $8.20 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
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