Brokerages Anticipate CoreSite Realty Co. (NYSE:COR) to Announce $1.33 Earnings Per Share

Wall Street brokerages expect CoreSite Realty Co. (NYSE:COR) to announce earnings per share of $1.33 for the current quarter, according to Zacks. Six analysts have made estimates for CoreSite Realty’s earnings. The highest EPS estimate is $1.36 and the lowest is $1.27. CoreSite Realty reported earnings per share of $1.29 during the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, April 29th.

On average, analysts expect that CoreSite Realty will report full-year earnings of $5.49 per share for the current financial year, with EPS estimates ranging from $5.45 to $5.56. For the next year, analysts expect that the business will report earnings of $5.87 per share, with EPS estimates ranging from $5.70 to $6.03. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover CoreSite Realty.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, February 4th. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.86). CoreSite Realty had a return on equity of 51.47% and a net margin of 13.19%. The company had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.71 million. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s revenue was up 6.1% on a year-over-year basis.

A number of brokerages recently issued reports on COR. Zacks Investment Research downgraded CoreSite Realty from a “hold” rating to a “sell” rating in a report on Monday. Cowen upgraded CoreSite Realty from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $152.00 in a research report on Tuesday, February 2nd. Credit Suisse Group cut their target price on CoreSite Realty from $161.00 to $156.00 and set an “outperform” rating on the stock in a research note on Friday, February 5th. Evercore ISI began coverage on CoreSite Realty in a research note on Thursday, March 18th. They issued an “in-line” rating and a $130.00 price objective on the stock. Finally, Mizuho dropped their target price on shares of CoreSite Realty from $135.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, March 18th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $131.56.

COR traded up $1.34 on Monday, hitting $125.68. The company had a trading volume of 170,719 shares, compared to its average volume of 339,467. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 16.41. The firm has a market cap of $5.40 billion, a P/E ratio of 62.53, a PEG ratio of 1.04 and a beta of 0.23. The company’s fifty day moving average price is $118.55 and its 200 day moving average price is $122.89. CoreSite Realty has a 1 year low of $107.23 and a 1 year high of $141.50.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a dividend of $1.23 per share. The ex-dividend date was Tuesday, March 30th. This represents a $4.92 annualized dividend and a dividend yield of 3.91%. CoreSite Realty’s dividend payout ratio is currently 96.47%.

In related news, CRO Steven James Smith sold 2,918 shares of the business’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $118.34, for a total value of $345,316.12. Following the completion of the transaction, the executive now owns 47,215 shares of the company’s stock, valued at $5,587,423.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Aleksandra Krusko sold 301 shares of the business’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $115.89, for a total value of $34,882.89. Following the completion of the transaction, the senior vice president now directly owns 8,165 shares of the company’s stock, valued at approximately $946,241.85. The disclosure for this sale can be found here. Insiders sold 41,657 shares of company stock valued at $4,708,727 over the last three months. 1.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in CoreSite Realty by 476.4% in the third quarter. AQR Capital Management LLC now owns 90,529 shares of the real estate investment trust’s stock worth $10,762,000 after purchasing an additional 74,824 shares during the period. California State Teachers Retirement System lifted its position in shares of CoreSite Realty by 5.2% during the third quarter. California State Teachers Retirement System now owns 72,231 shares of the real estate investment trust’s stock valued at $8,587,000 after purchasing an additional 3,564 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of CoreSite Realty by 8.2% during the third quarter. Great West Life Assurance Co. Can now owns 25,095 shares of the real estate investment trust’s stock valued at $2,981,000 after purchasing an additional 1,900 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of CoreSite Realty by 0.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 97,843 shares of the real estate investment trust’s stock valued at $11,631,000 after purchasing an additional 283 shares in the last quarter. Finally, Brinker Capital Investments LLC bought a new position in shares of CoreSite Realty during the third quarter valued at about $1,236,000. Institutional investors own 95.16% of the company’s stock.

CoreSite Realty Company Profile

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 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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