DENVER (AP) _ CoreSite Realty Corp. (COR) on Thursday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The Denver-based real estate investment trust said it had funds from operations of $67.8 million, or $1.40 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.33 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 $21.9 million, or 51 cents per share.
The operator of large computing warehouses posted revenue of $157.6 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $157 million.
The company's shares have declined roughly 3% since the beginning of the year. The stock has fallen almost 2% 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
