OVERLAND PARK, Kan. – OVERLAND PARK, Kan. (AP) _ QTS Realty Trust Inc. (QTS) on Wednesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The Overland Park, Kansas-based real estate investment trust said it had funds from operations of $39.3 million, or 68 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 62 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 $551,000, or 2 cents per share.
The data center real estate investment trust posted revenue of $113.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $114.7 million.
The company's shares have declined 38 percent since the beginning of the year. The stock has fallen 36 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on QTS at https://www.zacks.com/ap/QTS