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CoreSite: 4Q Earnings Snapshot

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

The Denver-based real estate investment trust said it had funds from operations of $60.8 million, or $1.26 per share, in the period.

The average estimate of 12 analysts surveyed by Zacks Investment Research was for funds from operations of $1.26 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 $19.6 million, or 54 cents per share.

The operator of large computing warehouses posted revenue of $139.1 million in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $140 million.

For the year, the company reported funds from operations of $243.2 million, or $5.06 per share. Revenue was reported as $544.4 million.

CoreSite expects full-year funds from operations in the range of $5.21 to $5.31 per share.

The company's shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $97.88, a decrease of nearly 4 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