Digital Realty Trust: 3Q Earnings Snapshot

SAN FRANCISCO (AP) _ Digital Realty Trust Inc. (DLR) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The real estate investment trust, based in San Francisco, said it had funds from operations of $432.2 million, or $1.54 per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.48 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 $37.4 million, or 14 cents per share.

The real estate investment trust posted revenue of $1.02 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $996.6 million.

Digital Realty Trust expects full-year funds from operations in the range of $6.10 to $6.15 per share, with revenue in the range of $3.85 billion to $3.88 billion.

The company's shares have climbed 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $148.72, a rise of 14% in the last 12 months.

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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