CoreSite Realty Corp (COR) Forecasted to Post Q1 2019 Earnings of $1.31 Per Share

CoreSite Realty Corp (NYSE:COR) – Analysts at Jefferies Financial Group decreased their Q1 2019 earnings per share (EPS) estimates for shares of CoreSite Realty in a report issued on Thursday, February 7th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $1.31 per share for the quarter, down from their previous estimate of $1.36. Jefferies Financial Group currently has a “Hold” rating and a $100.00 target price on the stock. Jefferies Financial Group also issued estimates for CoreSite Realty’s Q2 2019 earnings at $1.29 EPS, Q3 2019 earnings at $1.29 EPS and Q4 2019 earnings at $1.39 EPS.

A number of other analysts have also commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $111.00 price objective on shares of CoreSite Realty in a research note on Sunday, October 21st. Royal Bank of Canada lowered shares of CoreSite Realty from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 26th. Citigroup set a $104.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a research note on Monday, November 5th. Zacks Investment Research raised shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Thursday, January 3rd. Finally, Credit Suisse Group set a $111.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a research note on Thursday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. CoreSite Realty presently has an average rating of “Hold” and a consensus target price of $112.86.

NYSE:COR opened at $99.28 on Monday. CoreSite Realty has a twelve month low of $82.64 and a twelve month high of $117.82. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.15 and a quick ratio of 0.21. The stock has a market cap of $3.67 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. CoreSite Realty had a net margin of 14.31% and a return on equity of 20.97%. The company had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.89 million. During the same quarter last year, the firm posted $1.18 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bremer Trust National Association purchased a new stake in shares of CoreSite Realty in the fourth quarter worth approximately $54,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of CoreSite Realty by 42.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 200 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in shares of CoreSite Realty by 20,090.0% in the third quarter. Rehmann Capital Advisory Group now owns 12,114 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 12,054 shares in the last quarter. Sit Investment Associates Inc. lifted its position in shares of CoreSite Realty by 148.4% in the fourth quarter. Sit Investment Associates Inc. now owns 1,925 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Capital Advisors Ltd. LLC purchased a new stake in shares of CoreSite Realty in the third quarter worth approximately $169,000. 96.25% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Steven James Smith sold 3,200 shares of the stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $100.00, for a total value of $320,000.00. Following the completion of the sale, the senior vice president now directly owns 44,736 shares of the company’s stock, valued at $4,473,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.43%. This is a positive change from CoreSite Realty’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, December 28th. CoreSite Realty’s dividend payout ratio is 86.96%.

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.

Further Reading: Return on Equity (ROE)

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

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