Data center REIT Digital Realty Trust, Inc. (DLR) on Friday posted better-than-expected fourth quarter funds from operations and lifted its full-year 2011 forecast.
The San Francisco-based company reported fourth quarter funds from operations (FFO) of $102.91 million, or 98 cents per share, compared with $69.43 million, or 79 cents per share, in the year-ago period. Excluding one-time items, adjusted FFO was 96 cents per share.
Revenue surged more than 40% from last year to $239 million.
On average, Wall Street analysts expected smaller FFO of 91 cents per share, albeit on higher revenue of $242 million.
Looking ahead, the company boosted its full-year 2011 FFO guidance to a range of $3.80 to $3.95 per share, while analysts expect $3.85 per share for the year.
Digital Realty Trust shares were mostly flat in premarket trading Friday.
The Bottom Line
We recently added shares of Digital Realty Trust (DLR) to our recommended list. The company has a 4.86% dividend yield, based on last night’s closing stock price of $56.02.
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