SunTrust Banks Research Analysts Lower Earnings Estimates for CoreSite Realty Corp (COR)

CoreSite Realty Corp (NYSE:COR) – Analysts at SunTrust Banks dropped their Q1 2018 earnings per share estimates for shares of CoreSite Realty in a research note issued to investors on Thursday. SunTrust Banks analyst G. Miller now anticipates that the real estate investment trust will earn $1.22 per share for the quarter, down from their prior estimate of $1.23. SunTrust Banks currently has a “Buy” rating and a $133.00 target price on the stock. SunTrust Banks also issued estimates for CoreSite Realty’s Q2 2018 earnings at $1.23 EPS, Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $5.01 EPS, Q1 2019 earnings at $1.35 EPS, Q2 2019 earnings at $1.34 EPS, Q4 2019 earnings at $1.46 EPS and FY2019 earnings at $5.58 EPS.

CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. The company had revenue of $125.95 million during the quarter, compared to analyst estimates of $125.71 million. CoreSite Realty had a return on equity of 16.77% and a net margin of 15.54%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share.

Other research analysts have also issued research reports about the company. Jefferies Group reiterated a “buy” rating on shares of CoreSite Realty in a research report on Thursday. Citigroup lifted their price target on CoreSite Realty from $109.00 to $115.00 and gave the stock 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 research report on Thursday, October 19th. ValuEngine upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of CoreSite Realty in a research report on Sunday. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. CoreSite Realty presently has a consensus rating of “Buy” and a consensus target price of $112.75.

CoreSite Realty (NYSE COR) opened at $97.40 on Monday. The company has a market capitalization of $3,335.17, a PE ratio of 52.93, a P/E/G ratio of 1.15 and a beta of 0.33. CoreSite Realty has a 12-month low of $83.82 and a 12-month high of $120.85. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.27 and a quick ratio of 0.29.

Large investors have recently made changes to their positions in the business. Zions Bancorporation purchased a new position in shares of CoreSite Realty during the third quarter valued at approximately $170,000. Intrust Bank NA purchased a new position in shares of CoreSite Realty during the fourth quarter valued at approximately $200,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of CoreSite Realty during the fourth quarter valued at approximately $208,000. Park Avenue Securities LLC purchased a new position in shares of CoreSite Realty during the third quarter valued at approximately $207,000. Finally, FDx Advisors Inc. purchased a new position in shares of CoreSite Realty during the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 97.99% of the company’s stock.

In other CoreSite Realty news, SVP Steven James Smith sold 3,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $106.52, for a total transaction of $335,644.52. Following the completion of the transaction, the senior vice president now owns 42,915 shares in the company, valued at $4,571,305.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have acquired 150,000 shares of company stock valued at $55,000 and have sold 12,533 shares valued at $1,379,689. 1.50% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.02%. 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 payout ratio is 213.04%.

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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.

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

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