Digital Realty Trust Q2 FFO Increases; Beats Estimates

(RTTNews) - Digital Realty Trust, Inc. (DLR), which owns and deals in technology-related real estate, Friday reported an increase in Funds From Operations or FFO for the second quarter, that came in above analyst estimates. The results reflected higher revenues, significantly from rental segment. The company also raised its FFO expectations for the full year.

The company reported FFO of $1.22 per share, a 11.9 percent increase from $1.09 per share reported during the corresponding quarter previous year. Excluding certain items, the core FFO was $1.19 per share.

On average, nineteen analysts polled by Thomson Reuters expected earnings per share of $1.17 for the quarter. Analysts' estimates typically exclude one-time items.

Net Income Available to common stockholders was $47.07 million or $0.37 per share, compared with $42.02 million or $0.38 per share during the same quarter last year.

Total operating revenues were $363.5 million, up from $303.7 million during the same quarter last year. The Street expected the company to report revenues of $365.99 million.

Looking forward, the company is raising its full year FFO guidance range to $4.73 - $4.82 per share from the previously announced range of $4.65 - $4.80 per share. The company also updated its core FFO guidance range to be $4.74 - $4.83 per share from $4.70 - $4.85 per share.