KeyCorp Comments on CoreSite Realty Corporation’s FY2017 Earnings (COR)
CoreSite Realty Corporation (NYSE:COR) – Investment analysts at KeyCorp upped their FY2017 earnings per share (EPS) estimates for CoreSite Realty Corporation in a report issued on Monday. KeyCorp analyst J. Sadler now anticipates that the real estate investment trust will earn $4.52 per share for the year, up from their prior forecast of $4.49. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for CoreSite Realty Corporation’s FY2018 earnings at $5.03 EPS.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Credit Suisse Group set a $111.00 price target on CoreSite Realty Corporation and gave the stock a “hold” rating in a research note on Friday, October 27th. Citigroup Inc. boosted their price target on CoreSite Realty Corporation from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Cowen and Company restated a “buy” rating and set a $111.00 price target on shares of CoreSite Realty Corporation in a research note on Thursday, October 19th. Finally, J P Morgan Chase & Co assumed coverage on CoreSite Realty Corporation in a research note on Monday, September 25th. They set a “neutral” rating and a $118.00 price target on the stock. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. CoreSite Realty Corporation presently has an average rating of “Buy” and an average target price of $107.20.
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CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). CoreSite Realty Corporation had a net margin of 15.21% and a return on equity of 15.35%. The firm had revenue of $123.07 million for the quarter, compared to analysts’ expectations of $121.27 million. During the same period last year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, September 28th. CoreSite Realty Corporation’s payout ratio is 195.65%.
In other news, CEO Paul E. Szurek sold 3,805 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total transaction of $447,011.40. Following the completion of the transaction, the chief executive officer now directly owns 93,405 shares of the company’s stock, valued at approximately $10,973,219.40. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of COR. Penserra Capital Management LLC acquired a new position in CoreSite Realty Corporation in the 2nd quarter valued at $103,000. US Bancorp DE raised its stake in CoreSite Realty Corporation by 6.7% in the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 75 shares during the last quarter. LS Investment Advisors LLC raised its stake in CoreSite Realty Corporation by 4.6% in the 2nd quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 56 shares during the last quarter. IFP Advisors Inc raised its stake in CoreSite Realty Corporation by 14.6% in the 2nd quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 174 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in CoreSite Realty Corporation by 115.5% in the 2nd 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 purchasing an additional 783 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.
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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