DENVER – DENVER (AP) _ CoreSite Realty Corp. (COR) on Thursday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Denver, said it had funds from operations of $61.5 million, or $1.28 per share, in the period.
The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $1.24 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 $19.4 million, or 57 cents per share.
The operator of large computing warehouses posted revenue of $136.4 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $133.2 million.
CoreSite expects full-year funds from operations to be $5 to $5.08 per share.
The company's shares have dropped almost 1 percent since the beginning of the year. The stock has risen roughly 7 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on COR at https://www.zacks.com/ap/COR