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 fell short of Wall Street expectations.
The Austin, Texas-based real estate investment trust said it had funds from operations of $487.6 million, or $1.65 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.68 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 a loss of $6.1 million, or 2 cents per share.
The real estate investment trust posted revenue of $1.23 billion in the period, exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.21 billion.
For the year, the company reported funds from operations of $1.96 billion, or $6.70 per share. Revenue was reported as $4.69 billion.
Digital Realty Trust expects full-year funds from operations in the range of $6.65 to $6.75 per share, with revenue in the range of $5.7 billion to $5.8 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a DLR">Zacks stock report on DLR at https://www.zacks.com/ap/DLR