Digital Realty Trust: 2Q Earnings Snapshot

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

The real estate investment trust, based in San Francisco, said it had funds from operations of $357.3 million, or $1.64 per share, in the period.

The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $1.63 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 $31.7 million, or 15 cents per share.

The real estate investment trust posted revenue of $800.8 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $808.7 million.

Digital Realty Trust expects full-year funds from operations in the range of $6.60 to $6.70 per share.

The company's shares have climbed 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $114, a decrease of nearly 6% 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