Wall Street brokerages forecast that CoreSite Realty Corp (NYSE:COR) will announce $1.14 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for CoreSite Realty’s earnings, with the highest EPS estimate coming in at $1.19 and the lowest estimate coming in at $1.12. CoreSite Realty reported earnings of $0.44 per share during the same quarter last year, which suggests a positive year over year growth rate of 159.1%. The firm is expected to report its next quarterly earnings results 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 fiscal year, with EPS estimates ranging from $4.46 to $4.52. For the next financial year, analysts forecast that the business will post earnings of $5.04 per share, with EPS estimates ranging from $4.92 to $5.11. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow CoreSite Realty.

CoreSite Realty (NYSE:COR) last issued its 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). CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The company had revenue of $123.07 million during the quarter, compared to analysts’ expectations of $121.27 million. During the same quarter in the prior year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year.

Several analysts have recently commented on COR shares. Zacks Investment Research upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research report on Wednesday, September 27th. Citigroup raised their price objective on shares of CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Cowen reiterated a “buy” rating and issued a $111.00 price target on shares of CoreSite Realty in a report on Thursday, October 19th. SunTrust Banks reiterated a “buy” rating and issued a $121.00 price target on shares of CoreSite Realty in a report on Friday, November 17th. Finally, ValuEngine upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. CoreSite Realty presently has a consensus rating of “Buy” and a consensus price target of $109.55.

Shares of CoreSite Realty (COR) traded up $0.28 during mid-day trading on Thursday, hitting $111.57. 336,721 shares of the stock traded hands, compared to its average volume of 372,950. The company has a market cap of $5,360.00, a P/E ratio of 60.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.44. CoreSite Realty has a 12-month low of $80.78 and a 12-month high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a $0.98 dividend. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, December 28th. CoreSite Realty’s dividend payout ratio (DPR) is presently 213.04%.

In related news, SVP Derek Mccandless sold 5,000 shares of CoreSite Realty stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total transaction of $546,850.00. Following the completion of the transaction, the senior vice president now directly owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total transaction of $875,120.00. Following the transaction, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in COR. Atlantic Trust Group LLC purchased a new position in shares of CoreSite Realty during the 3rd quarter worth about $35,764,000. Fisher Asset Management LLC purchased a new stake in CoreSite Realty in the 3rd quarter valued at about $32,098,000. Goldman Sachs Group Inc. boosted its position in CoreSite Realty by 53.3% in the 2nd 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. Payden & Rygel boosted its position in 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 valued at $15,028,000 after buying an additional 130,400 shares during the period. Finally, Renaissance Technologies LLC boosted 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 period. 97.74% of the stock is owned by hedge funds and other institutional investors.

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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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