Wall Street brokerages expect CoreSite Realty Corp (NYSE:COR) to report earnings per share of $1.24 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for CoreSite Realty’s earnings, with estimates ranging from $1.20 to $1.29. CoreSite Realty reported earnings per share of $1.10 in the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that CoreSite Realty will report full-year earnings of $5.07 per share for the current year, with EPS estimates ranging from $4.99 to $5.18. For the next financial year, analysts anticipate that the company will report earnings of $5.49 per share, with EPS estimates ranging from $5.18 to $5.69. Zacks’ EPS calculations are an average based on a survey of research analysts that follow CoreSite Realty.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.67). The company had revenue of $136.40 million during the quarter, compared to analysts’ expectations of $132.99 million. CoreSite Realty had a return on equity of 19.09% and a net margin of 15.23%. CoreSite Realty’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share.

A number of equities analysts have commented on COR shares. Zacks Investment Research cut CoreSite Realty from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Cowen cut CoreSite Realty from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $115.00 to $107.00 in a research note on Monday, September 24th. Stifel Nicolaus began coverage on CoreSite Realty in a research note on Tuesday, July 17th. They issued a “hold” rating and a $115.00 price target on the stock. Credit Suisse Group set a $112.00 price objective on CoreSite Realty and gave the stock a “hold” rating in a research report on Sunday, August 5th. Finally, Citigroup lifted their price objective on CoreSite Realty from $105.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $120.85.

In related news, major shareholder Realty Iii Gp L.L.C. Carlyle sold 2,250,000 shares of CoreSite Realty stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total transaction of $251,797,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark R. Jones sold 600 shares of CoreSite Realty stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $113.31, for a total value of $67,986.00. Following the sale, the insider now owns 16,221 shares in the company, valued at $1,838,001.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,265,350 shares of company stock worth $253,558,053. Corporate insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its position in shares of CoreSite Realty by 107.7% during the first quarter. Assetmark Inc. now owns 1,302 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 675 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of CoreSite Realty during the first quarter valued at approximately $131,000. Bridgeworth LLC bought a new stake in shares of CoreSite Realty during the second quarter valued at approximately $166,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of CoreSite Realty during the second quarter valued at approximately $166,000. Finally, Zions Bancorporation bought a new stake in shares of CoreSite Realty during the second quarter valued at approximately $180,000. Institutional investors own 96.71% of the company’s stock.

CoreSite Realty stock traded up $0.47 during trading hours on Friday, reaching $100.52. The company had a trading volume of 571,533 shares, compared to its average volume of 350,481. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $3.83 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.24. CoreSite Realty has a 12-month low of $89.76 and a 12-month high of $119.59.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $1.03 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.10%. CoreSite Realty’s dividend payout ratio is currently 91.15%.

CoreSite Realty Company Profile

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.

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

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