Brokerages forecast that CoreSite (NYSE:COR) will report earnings of $1.23 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for CoreSite’s earnings. The highest EPS estimate is $1.27 and the lowest is $1.19. CoreSite posted earnings per share of $1.13 in the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The business is expected to announce its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that CoreSite will report full year earnings of $5.00 per share for the current financial year, with EPS estimates ranging from $4.93 to $5.05. For the next year, analysts anticipate that the firm will post earnings of $5.56 per share, with EPS estimates ranging from $5.23 to $5.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow CoreSite.
CoreSite (NYSE:COR) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. CoreSite had a return on equity of 16.77% and a net margin of 15.54%. The company had revenue of $125.95 million for the quarter, compared to the consensus estimate of $125.71 million. During the same quarter in the prior year, the business earned $1.06 EPS. CoreSite’s revenue was up 14.0% on a year-over-year basis.
In other CoreSite news, CEO Paul E. Szurek sold 2,610 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $101.91, for a total value of $265,985.10. Following the transaction, the chief executive officer now directly owns 89,560 shares of the company’s stock, valued at $9,127,059.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Steven James Smith sold 492 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $102.42, for a total transaction of $50,390.64. Following the completion of the transaction, the senior vice president now directly owns 36,101 shares in the company, valued at $3,697,464.42. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 198,000 shares of company stock worth $64,780 and sold 46,583 shares worth $4,620,060. 1.50% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its holdings in CoreSite by 14.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 500 shares during the period. Eaton Vance Management increased its stake in CoreSite by 8.4% in the 4th quarter. Eaton Vance Management now owns 6,925 shares of the real estate investment trust’s stock valued at $789,000 after purchasing an additional 537 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CoreSite by 43.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,960 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 596 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in CoreSite by 7.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,407 shares of the real estate investment trust’s stock valued at $1,053,000 after purchasing an additional 616 shares in the last quarter. Finally, US Bancorp DE increased its stake in CoreSite by 41.2% in the 4th quarter. US Bancorp DE now owns 2,257 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 658 shares in the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CoreSite stock traded up $0.91 during midday trading on Tuesday, reaching $106.23. The company’s stock had a trading volume of 424,273 shares, compared to its average volume of 423,644. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 2.24. CoreSite has a 12 month low of $86.47 and a 12 month high of $120.85. The stock has a market cap of $3,637.63, a P/E ratio of 57.73, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a $0.98 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $3.92 dividend on an annualized basis and a yield of 3.69%. CoreSite’s payout ratio is presently 213.04%.
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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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