PORTSMOUTH, N.H. (AP) — PORTSMOUTH, N.H. (AP) — Iron Mountain Inc. (IRM) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Portsmouth, New Hampshire-based real estate investment trust said it had funds from operations of $327.6 million, or $1.11 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.05 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 $28.5 million, or 10 cents per share.
The real estate investment trust, based in Portsmouth, New Hampshire, posted revenue of $1.42 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $1.44 billion.
For the year, the company reported funds from operations of $1.21 billion. Revenue was reported as $5.48 billion.
Iron Mountain expects full-year funds from operations in the range of $4.39 to $4.51 per share, with revenue in the range of $6 billion to $6.15 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRM at https://www.zacks.com/ap/IRM