Digital Realty Trust: Fourth Quarter Earnings Overview

Digital Realty Trust Surpasses Earnings Expectations in Fourth Quarter

Digital Realty Trust Inc., a real estate investment trust headquartered in Dallas, announced its fourth-quarter financial results on Thursday, outperforming analyst projections.

During the quarter, the company reported funds from operations totaling $650.2 million, which translates to $1.86 per share. This figure exceeded the consensus estimate of $1.83 per share from a group of 10 analysts polled by Zacks Investment Research.

Funds from operations, a key performance indicator for REITs, is calculated by adding back non-cash expenses like depreciation and amortization to net income.

Net income for the period reached $88.5 million, or 24 cents per share.

Digital Realty Trust also reported quarterly revenue of $1.63 billion, surpassing the $1.58 billion anticipated by nine analysts surveyed by Zacks.

For the full year, the company achieved $2.56 billion in funds from operations and generated $6.11 billion in revenue.

Looking ahead, Digital Realty Trust projects its funds from operations for the upcoming year to fall between $7.90 and $8 per share.