Digital Realty Trust Shares Fall 5.7% On Mixed Results (DLR)

Shares of Digital Realty Trust, Inc. DLR are trading down 5.7% at $55.95 per share during the Thursday afternoon trading session. The day's trading range for shares of Digital Realty Trust, Inc has been between $55.81 and $59.79 per share. Analysts covering the company's stock give it a consensus price target of $65.87 per share. Volume of 3.8 million shares is already more than triple the daily average volume of 1.1 million shares. Digital Realty Trust, Inc. (DLR) announced on Thursday morning that it missed consensus Wall Street earnings expectations, while beating revenue estimates. Digital Realty Trust, Inc announced 3rd quarter funds from operations ("FFO") 81 cents per share, on revenue of $237.49 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 82 cents per share, on revenue of $218.25 million. Chief financial officer and chief investment officer A. William Stein said, "FFO of $0.81 per diluted share and unit for the third quarter 2010 was negatively impacted by approximately $0.04 per diluted share and unit for transaction expenses related to our acquisition activities, by $0.04 per diluted share and unit for charges related to the redemption of our 8.50% Series A Preferred Stock, and by $0.01 per diluted share and unit for charges related to exchanges of our 2026 Debentures. This compares to FFO of $0.76 per diluted share and unit for the second quarter 2010, which was negatively impacted by $0.02 related to non-core expenses. Excluding the impact from these items in both quarters, FFO per diluted share and unit generated from ongoing operations would have increased 15.4% quarter over quarter." Read more from Benzinga's Company news.