Digital Realty's (DLR) Q1 FFO Beat Estimates, Revenues Lag

Published on 3 May 2024 on Zacks via Yahoo Finance

Digital Realty's (DLR) Q1 FFO Beat Estimates, Revenues Lag

Digital Realty Trust DLR reported first-quarter 2024 core funds from operations (FFO) per share of $1.67, outpacing the Zacks Consensus Estimate of $1.63.

Results reflect healthy leasing activity. However, rising operating expenses acted as a dampener in the quarter. DLR revised its outlook for 2024.

The company registered operating revenues of $1.33 billion in the first quarter, missing the Zacks Consensus Estimate of $1.36 billion. DLR also reported a "Same-Capital" cash net operating income (NOI) growth of 4.7%.

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