$1.14 EPS Expected for CoreSite Realty Corp (COR) This Quarter

Brokerages predict that CoreSite Realty Corp (NYSE:COR) will post earnings of $1.14 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for CoreSite Realty’s earnings. The highest EPS estimate is $1.19 and the lowest is $1.10. CoreSite Realty posted earnings of $1.06 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 8th.

On average, 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 $4.44 to $4.52. For the next financial year, analysts expect that the firm will post earnings of $5.02 per share, with EPS estimates ranging from $4.92 to $5.11. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for 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 Zacks’ consensus estimate of $1.10 by ($0.64). The company had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share.

A number of equities analysts recently issued reports on COR shares. Citigroup lifted their target price on CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Credit Suisse Group set a $111.00 target price on CoreSite Realty and gave the stock a “hold” rating in a report on Friday, October 27th. SunTrust Banks restated a “buy” rating and issued a $133.00 target price on shares of CoreSite Realty in a report on Thursday, December 7th. Zacks Investment Research cut CoreSite Realty from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, ValuEngine upgraded 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, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $110.75.

In other news, SVP Derek Mccandless sold 5,000 shares of CoreSite Realty stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total transaction of $546,850.00. Following the transaction, the senior vice president now owns 36,613 shares in the company, valued at $4,004,363.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the transaction, the chief financial officer now owns 98,562 shares in the company, valued at approximately $10,781,697.18. The disclosure for this sale can be found here. In the last quarter, insiders have bought 150,000 shares of company stock worth $55,000 and have sold 20,121 shares worth $2,224,720. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation purchased a new position in CoreSite Realty in the third quarter valued at about $170,000. Schroder Investment Management Group purchased a new position in CoreSite Realty in the second quarter valued at about $188,000. Jaffetilchin Investment Partners LLC purchased a new position in CoreSite Realty in the fourth quarter valued at about $208,000. Park Avenue Securities LLC purchased a new position in CoreSite Realty in the third quarter valued at about $207,000. Finally, FDx Advisors Inc. purchased a new position in CoreSite Realty in the third quarter valued at about $209,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Shares of CoreSite Realty (NYSE:COR) traded down $0.06 during midday trading on Friday, hitting $107.53. The company had a trading volume of 271,146 shares, compared to its average volume of 277,386. 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 has a market cap of $3,682.04, a PE ratio of 58.44, a price-to-earnings-growth ratio of 1.26 and a beta of 0.44. CoreSite Realty has a twelve month low of $83.82 and a twelve month high of $120.85.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a dividend of $0.98 per share. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.65%. CoreSite Realty’s payout ratio is currently 213.04%.

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About CoreSite Realty

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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