Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of data-center REIT DuPont Fabros Technology (NYSE: DFT) were getting pummeled by investors today, falling as much as 11% in intraday trading before closing down 4.5%.

So what: The results for DuPont's fourth quarter looked good, if not better than good. Earnings per share clocked in at $0.12, up 20% from the prior year, while revenue increased 13% to $74.4 million. Analysts were looking for $0.10 in per-share profit on revenue of $74.8 million. Funds from operations, a key cash-flow measure for REITs, climbed 12% from 2010 to $0.37.

Now what: While the results from the past quarter were what investors wanted to see, the expectations for the upcoming quarter and year weren't quite as spiffy. For the first quarter, management projected that funds from operations would fall to a range of $0.31 to $0.35, while full-year FFO is seen finishing between $1.31 and $1.51. The primary drivers of the lower FFO are lower capitalized interest resulting from the lack of new development starts planned and higher financing costs.

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