$1.26 Earnings Per Share Expected for CoreSite Realty Corp (NYSE:COR) This Quarter

Wall Street analysts expect CoreSite Realty Corp (NYSE:COR) to post earnings per share (EPS) of $1.26 for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for CoreSite Realty’s earnings, with the lowest EPS estimate coming in at $1.20 and the highest estimate coming in at $1.33. CoreSite Realty posted earnings per share of $1.25 during the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that CoreSite Realty will report full year earnings of $5.12 per share for the current financial year, with EPS estimates ranging from $5.07 to $5.25. For the next fiscal year, analysts forecast that the company will post earnings of $5.61 per share, with EPS estimates ranging from $5.33 to $5.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow CoreSite Realty.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.75). CoreSite Realty had a net margin of 13.82% and a return on equity of 24.19%. The company had revenue of $142.91 million for the quarter, compared to analysts’ expectations of $142.85 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis.

A number of research analysts recently commented on COR shares. ValuEngine downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Credit Suisse Group lowered their price objective on shares of CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Raymond James lowered their price objective on shares of CoreSite Realty from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $112.00 target price on shares of CoreSite Realty in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $113.18.

In other CoreSite Realty news, CRO Steven James Smith sold 1,300 shares of CoreSite Realty stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $120.00, for a total value of $156,000.00. Following the completion of the sale, the executive now directly owns 40,349 shares in the company, valued at $4,841,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Derek Mccandless sold 6,000 shares of CoreSite Realty stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $114.30, for a total transaction of $685,800.00. Following the completion of the sale, the senior vice president now owns 29,531 shares of the company’s stock, valued at $3,375,393.30. The disclosure for this sale can be found here. Insiders sold 15,545 shares of company stock valued at $1,799,872 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Tortoise Index Solutions LLC acquired a new stake in shares of CoreSite Realty in the first quarter worth $28,000. Bremer Bank National Association acquired a new stake in shares of CoreSite Realty in the first quarter worth $40,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of CoreSite Realty in the second quarter worth $51,000. Private Capital Group LLC lifted its stake in shares of CoreSite Realty by 28.1% in the first quarter. Private Capital Group LLC now owns 702 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 154 shares during the last quarter. Finally, Institutional & Family Asset Management LLC lifted its stake in shares of CoreSite Realty by 33.3% in the first quarter. Institutional & Family Asset Management LLC now owns 800 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.

COR traded up $2.29 on Friday, reaching $108.12. 533,468 shares of the company traded hands, compared to its average volume of 298,390. The business has a 50 day moving average price of $114.89. CoreSite Realty has a 52-week low of $82.64 and a 52-week high of $121.64. The stock has a market cap of $3.99 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.58 and a beta of 0.55. The company has a current ratio of 0.18, a quick ratio of 0.17 and a debt-to-equity ratio of 4.74.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $1.22 dividend. The ex-dividend date was Thursday, June 27th. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.10. This represents a $4.88 dividend on an annualized basis and a yield of 4.51%. CoreSite Realty’s payout ratio is 96.44%.

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

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