Q1 2018 Earnings Forecast for CoreSite Realty Corporation Issued By SunTrust Banks (COR)

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.

COR has been the topic of a number of other research reports. ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of CoreSite Realty in a research note on Thursday, October 12th. BidaskClub raised CoreSite Realty from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Zacks Investment Research raised CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Wednesday, September 27th. Finally, Cowen restated a “buy” rating and issued a $111.00 target price on shares of CoreSite Realty in a research note on Thursday, October 19th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $109.55.

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.

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

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