Digital Realty Trust: 4Q Earnings Snapshot

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

The San Francisco-based real estate investment trust said it had funds from operations of $354.7 million, or $1.62 per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.58 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 $315.6 million, or $1.50 per share.

The real estate investment trust posted revenue of $787.5 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $794 million.

For the year, the company reported funds from operations of $1.45 billion, or $6.65 per share. Revenue was reported as $3.21 billion.

The company’s shares have climbed roughly 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $126.53, a rise of 13% in the last 12 months.

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This story was generated by (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a at https://www.zacks.com/ap/DLR