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.
Digital Realty Trust, Inc. ( DLR ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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