Jefferies Group Weighs in on CoreSite Realty Corp’s Q1 2018 Earnings (COR)

CoreSite Realty Corp (NYSE:COR) – Equities research analysts at Jefferies Group issued their Q1 2018 EPS estimates for CoreSite Realty in a research report issued on Tuesday. Jefferies Group analyst J. Petersen expects that the real estate investment trust will post earnings per share of $1.24 for the quarter. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for CoreSite Realty’s Q2 2018 earnings at $1.24 EPS, Q3 2018 earnings at $1.22 EPS and Q4 2018 earnings at $1.32 EPS.

A number of other brokerages also recently weighed in on COR. Credit Suisse Group set a $111.00 price target on shares of CoreSite Realty and gave the company a “hold” rating in a report on Friday, October 27th. Citigroup cut their price target on shares of CoreSite Realty from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Mitsubishi UFJ Financial Group initiated coverage on shares of CoreSite Realty in a report on Wednesday, January 10th. They issued an “overweight” rating and a $124.00 price target for the company. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Robert W. Baird cut their price target on shares of CoreSite Realty from $129.00 to $126.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Eight research 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 stock. The company has an average rating of “Buy” and an average target price of $113.00.

Shares of CoreSite Realty (NYSE COR) opened at $98.28 on Wednesday. CoreSite Realty has a 1-year low of $83.82 and a 1-year 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. The firm has a market cap of $3,335.28, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.15 and a beta of 0.33.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.98 per share. 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. This represents a $3.92 dividend on an annualized basis and a yield of 3.99%. CoreSite Realty’s dividend payout ratio is currently 213.04%.

In other CoreSite Realty news, SVP Steven James Smith sold 7,121 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $112.73, for a total transaction of $802,750.33. Following the completion of the sale, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at $5,426,484.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety 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 currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Zions Bancorporation purchased a new stake in CoreSite Realty during the third quarter valued at about $170,000. Financial Gravity Companies Inc. purchased a new stake in CoreSite Realty during the fourth quarter valued at about $183,000. Intrust Bank NA purchased a new stake in CoreSite Realty during the fourth quarter valued at about $200,000. Park Avenue Securities LLC purchased a new stake in CoreSite Realty during the third quarter valued at about $207,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in CoreSite Realty during the fourth quarter valued at about $208,000. 97.35% of the stock is owned by 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.

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

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