DALLAS – DALLAS (AP) _ CyrusOne Inc. (CONE) on Tuesday reported a key measure of profitability in its third quarter. The results did not meet Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $78.5 million, or 79 cents per share, in the period.
The average estimate of 12 analysts surveyed by Zacks Investment Research was for funds from operations of 80 cents 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 a loss of $42.4 million, or 43 cents per share.
The data center operator, based in Dallas, posted revenue of $206.6 million in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $208.2 million.
CyrusOne expects full-year funds from operations in the range of $3.25 to $3.30 per share, with revenue in the range of $820 million to $830 million.
The company's shares have declined nearly 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $53.63, a decrease of 11 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CONE at https://www.zacks.com/ap/CONE
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