CoreSite Realty Corp (NYSE:COR) – Stock analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for shares of CoreSite Realty in a report released on Tuesday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $5.02 for the year, up from their prior forecast of $4.96. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for CoreSite Realty’s FY2019 earnings at $5.66 EPS.
Other equities research analysts have also recently issued reports about the company. Mitsubishi UFJ Financial Group began coverage on CoreSite Realty in a research report on Wednesday, January 10th. They set an “overweight” rating and a $124.00 target price on the stock. Citigroup lifted their price objective 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 price objective on CoreSite Realty and gave the stock a “hold” rating in a report on Wednesday, January 17th. ValuEngine upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, TheStreet cut CoreSite Realty from a “b-” rating to a “c+” rating in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. CoreSite Realty has a consensus rating of “Buy” and an average price target of $113.00.
CoreSite Realty (NYSE:COR) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. CoreSite Realty had a return on equity of 16.77% and a net margin of 15.54%. The firm had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $125.71 million. During the same period last year, the firm earned $1.06 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis.
Several institutional investors have recently modified their holdings of COR. Zions Bancorporation acquired a new position in shares of CoreSite Realty during the 3rd quarter worth approximately $170,000. Financial Gravity Companies Inc. acquired a new position in shares of CoreSite Realty during the 4th quarter worth approximately $183,000. Intrust Bank NA acquired a new position in shares of CoreSite Realty during the 4th quarter worth approximately $200,000. Park Avenue Securities LLC acquired a new position in shares of CoreSite Realty during the 3rd quarter worth approximately $207,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of CoreSite Realty during the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 97.35% of the company’s stock.
In other 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 transaction, the senior vice president now directly owns 42,915 shares in the company, valued at approximately $4,571,305.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 150,000 shares of company stock worth $55,000 and have sold 12,533 shares worth $1,379,689. Insiders own 1.50% of the company’s stock.
The business also recently announced 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 a boost from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, December 28th. CoreSite Realty’s payout ratio is currently 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.
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