CoreSite: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

DENVER (AP) _ CoreSite Realty Corp. (COR) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The Denver-based real estate investment trust said it had funds from operations of $64.3 million, or $1.33 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.29 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 $21.1 million, or 50 cents per share.

The operator of large computing warehouses posted revenue of $154 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $152.9 million.

CoreSite expects full-year funds from operations to be $5.26 to $5.30 per share.

The company's shares have risen slightly more than 6% since the beginning of the year. The stock has decreased slightly in the last 12 months.

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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 COR at https://www.zacks.com/ap/COR