QTS Realty: 1Q Earnings Snapshot
{{#rendered}} {{/rendered}}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.
{{#rendered}} {{/rendered}}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.
{{#rendered}} {{/rendered}}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.
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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