Q1 2018 Earnings Estimate for CoreSite Realty Corporation Issued By SunTrust Banks (COR)
CoreSite Realty Corporation (NYSE:COR) – Stock analysts at SunTrust Banks decreased their Q1 2018 earnings per share (EPS) estimates for shares of CoreSite Realty in a research note issued on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the real estate investment trust will post earnings per share of $1.23 for the quarter, down from their prior forecast of $1.24. SunTrust Banks currently has a “Buy” rating and a $133.00 price target on the stock. SunTrust Banks also issued estimates for CoreSite Realty’s Q3 2018 earnings at $1.25 EPS and FY2018 earnings at $5.03 EPS.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). The company had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS.
Several other equities analysts have also weighed in on the company. Citigroup lifted their price target on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. BidaskClub upgraded CoreSite Realty from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Credit Suisse Group set a $111.00 price objective on CoreSite Realty and gave the stock a “hold” rating in a research note on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of CoreSite Realty in a research note on Tuesday, September 12th. Finally, Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. CoreSite Realty has a consensus rating of “Buy” and an average price target of $109.55.
CoreSite Realty (COR) opened at $115.46 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. CoreSite Realty has a 52 week low of $74.65 and a 52 week high of $120.85. The firm has a market capitalization of $3,953.58, a PE ratio of 26.30, a P/E/G ratio of 1.52 and a beta of 0.44.
A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its stake in shares of CoreSite Realty by 6.7% in the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 75 shares in the last quarter. IFP Advisors Inc raised its stake in shares of CoreSite Realty by 14.6% in the second quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 174 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of CoreSite Realty in the third quarter valued at $170,000. Schroder Investment Management Group acquired a new stake in shares of CoreSite Realty in the second quarter valued at $188,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of CoreSite Realty in the third quarter valued at $207,000. Institutional investors own 98.91% of the company’s stock.
In other CoreSite Realty news, SVP Derek Mccandless sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total transaction of $546,850.00. Following the transaction, the senior vice president now directly owns 36,613 shares in the company, valued at $4,004,363.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul E. Szurek sold 3,805 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total value of $447,011.40. Following the transaction, the chief executive officer now owns 93,405 shares in the company, valued at $10,973,219.40. The disclosure for this sale can be found here. Insiders sold 16,805 shares of company stock worth $1,868,981 over the last quarter. 1.50% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 dividend on an annualized basis and a yield of 3.40%. CoreSite Realty’s dividend payout ratio is currently 195.65%.
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About CoreSite Realty
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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