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BOSTON (AP) — BOSTON (AP) — Iron Mountain Inc. (IRM) on Thursday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $286.8 million, or 98 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 94 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 net income of $122.4 million, or 42 cents per share.
The real estate investment trust, based in Boston, posted revenue of $1.28 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.3 billion.
For the year, the company reported funds from operations of $1.11 billion. Revenue was reported as $5.1 billion.
Iron Mountain expects full-year funds from operations in the range of $3.91 to $4 per share, with revenue in the range of $5.5 billion to $5.6 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a IRM">Zacks stock report on IRM at https://www.zacks.com/ap/IRM