CoreSite Realty Corporation (NYSE:COR) - Research analysts at Jefferies Group lifted their Q2 2017 EPS estimates for CoreSite Realty Corporation in a research report issued to clients and investors on Friday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings per share of $1.06 for the quarter, up from their previous estimate of $1.05. Jefferies Group has a “Buy” rating and a $117.00 price objective on the stock.
CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.06. The company had revenue of $114.92 million during the quarter, compared to the consensus estimate of $114.48 million. CoreSite Realty Corporation had a return on equity of 13.09% and a net margin of 15.08%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. ILLEGAL ACTIVITY NOTICE: This article was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://stocknewstimes.com/2017/07/29/jefferies-group-analysts-raise-earnings-estimates-for-coresite-realty-corporation-nysecor-updated.html.
Several other research analysts have also recently weighed in on the company. Royal Bank Of Canada reiterated a “buy” rating on shares of CoreSite Realty Corporation in a research report on Tuesday. Zacks Investment Research cut CoreSite Realty Corporation from a “hold” rating to a “sell” rating in a research report on Monday. Macquarie reiterated a “hold” rating and set a $84.00 price target on shares of CoreSite Realty Corporation in a research report on Tuesday, July 4th. Credit Suisse Group assumed coverage on CoreSite Realty Corporation in a research report on Friday, June 30th. They set a “neutral” rating and a $103.00 price target for the company. Finally, BidaskClub cut CoreSite Realty Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. CoreSite Realty Corporation currently has a consensus rating of “Hold” and an average target price of $97.45.
CoreSite Realty Corporation (COR) opened at 104.98 on Monday. The company has a market capitalization of $3.59 billion, a P/E ratio of 63.62 and a beta of 0.57. The company’s 50 day moving average price is $105.75 and its 200-day moving average price is $94.43. CoreSite Realty Corporation has a 52 week low of $64.81 and a 52 week high of $113.55.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.90 dividend. This is a positive change from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, June 28th. CoreSite Realty Corporation’s dividend payout ratio (DPR) is presently 218.18%.
In other CoreSite Realty Corporation news, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $98.75, for a total value of $790,000.00. Following the sale, the chief financial officer now directly owns 113,268 shares of the company’s stock, valued at $11,185,215. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven James Smith sold 1,152 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $100.00, for a total value of $115,200.00. Following the completion of the sale, the senior vice president now directly owns 53,888 shares in the company, valued at $5,388,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,152 shares of company stock worth $2,150,000. 3.10% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Miles Capital Inc. raised its stake in shares of CoreSite Realty Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 2,767 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 8 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of CoreSite Realty Corporation by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 56 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of CoreSite Realty Corporation by 1.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,289 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 75 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of CoreSite Realty Corporation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,740 shares of the real estate investment trust’s stock valued at $697,000 after buying an additional 80 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of CoreSite Realty Corporation by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 5,533 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 81 shares during the last quarter.
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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