Analysts predict that CoreSite Realty Corporation (NYSE:COR) will report earnings per share of $1.08 for the current quarter, Zacks reports. Six analysts have made estimates for CoreSite Realty Corporation’s earnings. The highest EPS estimate is $1.14 and the lowest is $1.05. CoreSite Realty Corporation posted earnings of $0.89 per share in the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that CoreSite Realty Corporation will report full year earnings of $4.43 per share for the current fiscal year, with EPS estimates ranging from $4.35 to $4.49. For the next fiscal year, analysts forecast that the firm will post earnings of $4.95 per share, with EPS estimates ranging from $4.74 to $5.20. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for CoreSite Realty Corporation.
CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.06. The company had revenue of $114.92 million for the quarter, compared to analysts’ expectations of $114.48 million. CoreSite Realty Corporation had a net margin of 15.08% and a return on equity of 13.09%. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS.
A number of equities research analysts have weighed in on COR shares. Zacks Investment Research upgraded shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Wednesday, June 28th. BidaskClub cut shares of CoreSite Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and issued a $117.00 price objective on shares of CoreSite Realty Corporation in a report on Wednesday, June 14th. Royal Bank Of Canada restated a “buy” rating and issued a $110.00 price objective on shares of CoreSite Realty Corporation in a report on Thursday, June 8th. Finally, Macquarie restated a “hold” rating and issued a $84.00 price objective on shares of CoreSite Realty Corporation in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $97.20.
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Shares of CoreSite Realty Corporation (COR) traded up 0.67% during trading on Thursday, reaching $105.12. 174,111 shares of the company traded hands. The firm’s 50 day moving average is $105.75 and its 200-day moving average is $94.58. CoreSite Realty Corporation has a 12-month low of $64.81 and a 12-month high of $113.55. The stock has a market capitalization of $3.59 billion, a P/E ratio of 63.71 and a beta of 0.57.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Wednesday, June 28th. This is an increase from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. CoreSite Realty Corporation’s dividend payout ratio is currently 218.18%.
In other news, SVP Derek Mccandless sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $105.48, for a total value of $1,054,800.00. Following the transaction, the senior vice president now owns 49,713 shares in the company, valued at $5,243,727.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Steven James Smith sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $95.00, for a total transaction of $190,000.00. Following the completion of the transaction, the senior vice president now owns 55,040 shares in the company, valued at approximately $5,228,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,152 shares of company stock worth $2,150,000. Insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Insight Capital Research & Management Inc. purchased a new position in shares of CoreSite Realty Corporation during the second quarter valued at about $1,043,000. Forsta AP Fonden purchased a new position in shares of CoreSite Realty Corporation during the second quarter valued at about $1,170,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of CoreSite Realty Corporation by 115.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,461 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 783 shares in the last quarter. Whittier Trust Co. increased its position in shares of CoreSite Realty Corporation by 2.8% in the second quarter. Whittier Trust Co. now owns 38,402 shares of the real estate investment trust’s stock valued at $3,976,000 after buying an additional 1,041 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of CoreSite Realty Corporation by 6.7% in the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 75 shares in the last quarter.
CoreSite Realty Corporation 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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