CoreSite Realty Corp (NYSE:COR) – Investment analysts at Jefferies Financial Group lifted their FY2018 EPS estimates for shares of CoreSite Realty in a report issued on Monday, October 29th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings of $5.07 per share for the year, up from their previous estimate of $5.04. Jefferies Financial Group also issued estimates for CoreSite Realty’s Q1 2019 earnings at $1.36 EPS, Q2 2019 earnings at $1.34 EPS, Q3 2019 earnings at $1.26 EPS, Q4 2019 earnings at $1.41 EPS, Q1 2020 earnings at $1.49 EPS, Q2 2020 earnings at $1.47 EPS and Q3 2020 earnings at $1.42 EPS.
Several other equities research analysts have also recently weighed in on the stock. Cowen cut shares of CoreSite Realty from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $115.00 to $107.00 in a research note on Monday, September 24th. Zacks Investment Research cut shares of CoreSite Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Berenberg Bank initiated coverage on shares of CoreSite Realty in a research note on Thursday, September 20th. They issued a “buy” rating and a $153.00 target price for the company. Royal Bank of Canada increased their target price on shares of CoreSite Realty to $123.00 and gave the company an “average” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Finally, Citigroup increased their target price on shares of CoreSite Realty from $105.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $120.08.
NYSE COR opened at $94.93 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.21 and a quick ratio of 0.23. CoreSite Realty has a twelve month low of $88.37 and a twelve month high of $119.59. The stock has a market capitalization of $3.36 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.16 and a beta of 0.24.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.72). The business had revenue of $139.18 million during the quarter, compared to analyst estimates of $138.10 million. CoreSite Realty had a net margin of 14.91% and a return on equity of 20.18%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC bought a new position in CoreSite Realty during the first quarter worth about $131,000. Bridgeworth LLC bought a new position in CoreSite Realty during the second quarter worth about $166,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in CoreSite Realty during the second quarter worth about $166,000. Capital Advisors Ltd. LLC bought a new position in CoreSite Realty during the third quarter worth about $169,000. Finally, Zions Bancorporation bought a new position in CoreSite Realty during the second quarter worth about $180,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.
In other CoreSite Realty news, SVP Brian Warren sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $114.27, for a total transaction of $114,270.00. Following the completion of the transaction, the senior vice president now owns 36,623 shares in the company, valued at $4,184,910.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul E. Szurek sold 3,588 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $114.15, for a total transaction of $409,570.20. Following the transaction, the chief executive officer now owns 147,075 shares of the company’s stock, valued at approximately $16,788,611.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,750 shares of company stock valued at $1,692,567. Corporate insiders own 1.50% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Thursday, September 27th. CoreSite Realty’s dividend payout ratio is 91.15%.
About CoreSite Realty
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world's leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads.
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