Brokerages Anticipate CoreSite Realty Corp (COR) Will Post Earnings of $1.14 Per Share

Analysts predict that CoreSite Realty Corp (NYSE:COR) will post $1.14 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for CoreSite Realty’s earnings. The lowest EPS estimate is $1.10 and the highest is $1.19. CoreSite Realty reported earnings per share of $1.06 during the same quarter last year, which suggests a positive year-over-year growth rate of 7.5%. The company is expected to issue its next quarterly earnings results before the market opens 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 $4.44 to $4.52. For the next financial year, analysts forecast that the business 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 calculations are an average based on a survey of research analysts that that provide coverage for CoreSite Realty.

COR has been the topic of a number of recent research reports. Credit Suisse Group set a $111.00 price target on shares of CoreSite Realty and gave the company a “hold” rating in a research note on Friday, October 27th. Citigroup upped their price target on shares of CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Mitsubishi UFJ Financial Group assumed coverage on shares of CoreSite Realty in a research note on Wednesday, January 10th. They set an “overweight” rating and a $124.00 price target on the stock. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $133.00 target price on shares of CoreSite Realty in a report on Thursday, December 7th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. CoreSite Realty presently has a consensus rating of “Buy” and an average price target of $110.75.

In related news, SVP Steven James Smith sold 2,261 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $106.72, for a total transaction of $241,293.92. Following the sale, the senior vice president now owns 42,915 shares of the company’s stock, valued at approximately $4,579,888.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 150,000 shares of company stock worth $55,000 and have sold 12,533 shares worth $1,379,689. Corporate insiders own 1.50% of the company’s stock.

Several large investors have recently modified their holdings of COR. PNC Financial Services Group Inc. increased its holdings in shares of CoreSite Realty by 2.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 104 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of CoreSite Realty by 26.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,345 shares of the real estate investment trust’s stock worth $2,831,000 after buying an additional 5,698 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CoreSite Realty by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 477,515 shares of the real estate investment trust’s stock worth $49,437,000 after buying an additional 19,551 shares during the last quarter. OxFORD Asset Management LLP bought a new position in shares of CoreSite Realty in the 2nd quarter worth $1,164,000. Finally, Balyasny Asset Management LLC grew its holdings in shares of CoreSite Realty by 26.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 5,100 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 1,072 shares during the last quarter. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CoreSite Realty (COR) traded up $1.67 during mid-day trading on Wednesday, hitting $103.51. 44,358 shares of the company were exchanged, compared to its average volume of 352,298. The stock has a market cap of $4,920.00, a PE ratio of 56.06, a P/E/G ratio of 1.20 and a beta of 0.33. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. CoreSite Realty has a 12 month low of $83.82 and a 12 month high of $120.85.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90. CoreSite Realty’s dividend payout ratio is 213.04%.

ILLEGAL ACTIVITY NOTICE: This story was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/07/brokerages-anticipate-coresite-realty-corp-cor-will-post-earnings-of-1-14-per-share.html.

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.

Get a free copy of the Zacks research report on CoreSite Realty (COR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for CoreSite Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreSite Realty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply