CoreSite Realty Corporation (NYSE:COR) – SunTrust Banks dropped their Q1 2018 earnings per share (EPS) estimates for shares of CoreSite Realty in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the real estate investment trust will post earnings of $1.23 per share for the quarter, down from their previous forecast of $1.24. SunTrust Banks currently has a “Buy” rating and a $133.00 target price 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 announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The business had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s revenue was up 21.5% compared to the same quarter last year.
Shares of CoreSite Realty (NYSE:COR) traded up $0.47 during mid-day trading on Monday, reaching $115.93. The company’s stock had a trading volume of 305,600 shares, compared to its average volume of 424,714. CoreSite Realty has a one year low of $74.82 and a one year high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm has a market cap of $3,953.52, a price-to-earnings ratio of 26.30, a PEG ratio of 1.52 and a beta of 0.44.
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 given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.38%. 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. CoreSite Realty’s payout ratio is currently 195.65%.
In other news, CEO Paul E. Szurek sold 3,805 shares of the stock in a transaction that occurred 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 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 legal filing with the SEC, which is available at this link. Also, SVP Derek Mccandless sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the transaction, the senior vice president now directly owns 36,613 shares of the company’s stock, valued at $4,004,363.81. The disclosure for this sale can be found here. Insiders have sold a total of 16,805 shares of company stock valued at $1,868,981 in the last three months. 1.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in CoreSite Realty by 0.3% in the 2nd quarter. Sei Investments Co. now owns 8,515 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 28 shares during the last quarter. Profund Advisors LLC raised its stake in CoreSite Realty by 0.6% during the 2nd quarter. Profund Advisors LLC now owns 7,163 shares of the real estate investment trust’s stock worth $742,000 after buying an additional 45 shares during the period. US Bancorp DE raised its stake in CoreSite Realty by 6.7% during the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 75 shares during the period. Pinebridge Investments L.P. raised its stake in CoreSite Realty by 1.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,505 shares of the real estate investment trust’s stock worth $467,000 after buying an additional 80 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in CoreSite Realty by 0.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 21,441 shares of the real estate investment trust’s stock worth $2,220,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.
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CoreSite Realty 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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