Analysts Anticipate CoreSite Realty Corporation (COR) to Announce $1.14 EPS

Analysts forecast that CoreSite Realty Corporation (NYSE:COR) will post earnings of $1.14 per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for CoreSite Realty’s earnings, with the highest EPS estimate coming in at $1.15 and the lowest estimate coming in at $1.12. CoreSite Realty posted earnings per share of $0.44 during the same quarter last year, which indicates a positive year-over-year growth rate of 159.1%. The firm is expected to announce its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that CoreSite Realty will report full-year earnings of $4.48 per share for the current year, with EPS estimates ranging from $4.46 to $4.52. For the next fiscal year, analysts anticipate that the business will report earnings of $5.04 per share, with EPS estimates ranging from $4.92 to $5.11. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for CoreSite Realty.

CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). The firm had revenue of $123.07 million for the quarter, compared to analysts’ expectations of $121.27 million. CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS.

A number of equities research analysts recently issued reports on COR shares. ValuEngine upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. KeyCorp reiterated a “hold” rating on shares of CoreSite Realty in a report on Thursday, October 12th. BidaskClub upgraded shares of CoreSite Realty from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Wednesday, September 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $121.00 price target on shares of CoreSite Realty in a research note on Friday, November 17th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. CoreSite Realty has a consensus rating of “Buy” and an average price target of $108.45.

In other CoreSite Realty news, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the sale, the chief financial officer now owns 98,562 shares in the company, valued at $10,781,697.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul E. Szurek sold 3,805 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total value of $447,011.40. Following the completion of the transaction, the chief executive officer now directly owns 93,405 shares of the company’s stock, valued at approximately $10,973,219.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,805 shares of company stock worth $1,868,981. 1.50% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC bought a new stake in shares of CoreSite Realty during the 3rd quarter valued at about $32,098,000. Goldman Sachs Group Inc. increased its stake in shares of CoreSite Realty by 53.3% in the second quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock valued at $52,529,000 after buying an additional 176,489 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of CoreSite Realty by 44.9% during the 2nd quarter. Principal Financial Group Inc. now owns 536,724 shares of the real estate investment trust’s stock worth $55,567,000 after buying an additional 166,193 shares in the last quarter. Payden & Rygel lifted its holdings in shares of CoreSite Realty by 3,343.6% in the 3rd quarter. Payden & Rygel now owns 134,300 shares of the real estate investment trust’s stock worth $15,028,000 after purchasing an additional 130,400 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in CoreSite Realty by 45.6% in the 2nd quarter. Renaissance Technologies LLC now owns 358,900 shares of the real estate investment trust’s stock valued at $37,157,000 after buying an additional 112,400 shares during the last quarter. 98.98% of the stock is owned by hedge funds and other institutional investors.

CoreSite Realty (NYSE:COR) opened at $113.48 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm has a market cap of $4,022.35, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.54 and a beta of 0.43. CoreSite Realty has a 1-year low of $67.36 and a 1-year high of $120.85.

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CoreSite Realty 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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Earnings History and Estimates for CoreSite Realty (NYSE:COR)

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