U.S. Markets closed

CoreSite: 3Q Earnings Snapshot

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

The Denver-based real estate investment trust said it had funds from operations of $59.9 million, or $1.25 per share, in the period.

The average estimate of 12 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 $18.6 million, or 52 cents per share.

The operator of large computing warehouses posted revenue of $139.2 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $138.1 million.

CoreSite expects full-year funds from operations to be $5 to $5.08 per share.

The company's shares have declined 8 percent since the beginning of the year. The stock has declined nearly 8 percent in the last 12 months.


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