CoreSite Realty Corporation (COR) Forecasted to Post Q4 2017 Earnings of $1.16 Per Share
CoreSite Realty Corporation (NYSE:COR) – Equities research analysts at Jefferies Group dropped their Q4 2017 earnings estimates for CoreSite Realty Corporation in a research report issued on Monday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $1.16 for the quarter, down from their previous estimate of $1.19. Jefferies Group has a “Buy” rating and a $119.00 price target on the stock. Jefferies Group also issued estimates for CoreSite Realty Corporation’s FY2018 earnings at $5.22 EPS.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Citigroup Inc. lowered shares of CoreSite Realty Corporation from a “buy” rating to a “neutral” rating and set a $103.00 target price for the company. in a report on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $110.00 target price on shares of CoreSite Realty Corporation in a report on Thursday, June 8th. BidaskClub lowered shares of CoreSite Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, Wells Fargo & Company initiated coverage on shares of CoreSite Realty Corporation in a report on Wednesday, May 17th. They set a “market perform” rating and a $94.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. CoreSite Realty Corporation currently has an average rating of “Hold” and a consensus price target of $98.00.
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Shares of CoreSite Realty Corporation (COR) traded up 1.11% on Wednesday, reaching $111.54. The company’s stock had a trading volume of 87,246 shares. CoreSite Realty Corporation has a 12 month low of $64.81 and a 12 month high of $113.55. The stock has a 50 day moving average of $105.82 and a 200-day moving average of $97.63. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 64.18 and a beta of 0.57.
CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The company had revenue of $117.89 million for the quarter, compared to the consensus estimate of $117.32 million. CoreSite Realty Corporation had a return on equity of 14.14% and a net margin of 15.15%. CoreSite Realty Corporation’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS.
A number of large investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in CoreSite Realty Corporation by 7.5% in the first quarter. Wells Fargo & Company MN now owns 1,586,774 shares of the real estate investment trust’s stock worth $142,888,000 after buying an additional 111,103 shares during the period. Sumitomo Mitsui Asset Management Company LTD bought a new stake in CoreSite Realty Corporation during the first quarter worth approximately $6,154,000. DUPONT CAPITAL MANAGEMENT Corp increased its stake in CoreSite Realty Corporation by 758.9% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 78,000 shares of the real estate investment trust’s stock worth $7,024,000 after buying an additional 68,919 shares during the period. Whittier Trust Co. increased its stake in CoreSite Realty Corporation by 5.2% in the first quarter. Whittier Trust Co. now owns 37,361 shares of the real estate investment trust’s stock worth $3,364,000 after buying an additional 1,856 shares during the period. Finally, IFP Advisors Inc increased its stake in CoreSite Realty Corporation by 203.8% in the first quarter. IFP Advisors Inc now owns 1,188 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 797 shares during the period.
In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total transaction of $885,920.00. Following the completion of the sale, the chief financial officer now owns 110,493 shares of the company’s stock, valued at $12,235,994.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Derek Mccandless sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $105.48, for a total transaction of $1,054,800.00. Following the sale, the senior vice president now directly owns 49,713 shares of the company’s stock, valued at approximately $5,243,727.24. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock valued at $3,048,120 in the last ninety days. Insiders own 3.10% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.90 per share. This is an increase from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.26%. CoreSite Realty Corporation’s dividend payout ratio (DPR) is currently 206.90%.
CoreSite Realty Corporation Company Profile
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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