CoreSite Realty (COR) Reports Q2 FFO of $1.35

CoreSite Realty (NYSE: COR) reported Q2 FFO of $1.35, versus $1.27 reported last year. Revenue for the quarter came in at $150.5 million versus the consensus estimate of $149.86 million.

2020 Guidance:

CoreSite is increasing its 2020 Guidance related to net income attributable to common diluted shares from its previous range of $1.74 to $1.84 per share to its new guidance range of $1.81 to $1.91 per share. In addition, CoreSite’s 2020 FFO per share guidance has been increased from its previous range of $5.10 to $5.20 per share to its new guidance range of $5.15 to $5.25 per share. The increase of $0.05 per share at the midpoint, or approximately 1%, is largely driven by interest expense savings resulting from its financing activities earlier this year and lower rates expected through the rest of this year. Other than the changes noted, CoreSite’s 2020 guidance and guidance drivers remain unchanged. CoreSite’s full 2020 guidance can be found in the Company’s second quarter 2020 Supplemental Earnings Information on page 23.

For earnings history and earnings-related data on CoreSite Realty (COR) click here.

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