CoreSite Realty Corp (COR) to Post FY2018 Earnings of $5.02 Per Share, Jefferies Group Forecasts

CoreSite Realty Corp (NYSE:COR) – Equities researchers at Jefferies Group boosted their FY2018 earnings per share estimates for CoreSite Realty in a research note issued to investors on Tuesday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $5.02 for the year, up from their previous estimate of $4.96. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for CoreSite Realty’s FY2019 earnings at $5.66 EPS.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. CoreSite Realty had a net margin of 15.54% and a return on equity of 16.77%. The firm had revenue of $125.95 million during the quarter, compared to analyst estimates of $125.71 million. During the same quarter in the prior year, the business posted $1.06 earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year.

Other analysts have also issued research reports about the stock. Mitsubishi UFJ Financial Group began coverage on shares of CoreSite Realty in a report on Wednesday, January 10th. They set an “overweight” rating and a $124.00 price objective for the company. Citigroup raised their price objective on shares of CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Credit Suisse Group dropped their price objective on shares of CoreSite Realty from $111.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, February 9th. ValuEngine raised shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, TheStreet lowered shares of CoreSite Realty from a “b-” rating to a “c+” rating in a report on Friday, February 9th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CoreSite Realty currently has a consensus rating of “Buy” and a consensus price target of $113.00.

Shares of CoreSite Realty (NYSE COR) opened at $96.26 on Thursday. The firm has a market cap of $3,326.38, a P/E ratio of 52.32, a PEG ratio of 1.14 and a beta of 0.33. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.29 and a current ratio of 0.27. CoreSite Realty has a fifty-two week low of $85.57 and a fifty-two week high of $120.85.

In related news, SVP Steven James Smith sold 3,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $106.52, for a total value of $335,644.52. Following the completion of the sale, the senior vice president now owns 42,915 shares of the company’s stock, valued at $4,571,305.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders purchased 193,000 shares of company stock valued at $68,330 and sold 12,533 shares valued at $1,379,689. Company insiders own 1.50% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Zions Bancorporation acquired a new stake in shares of CoreSite Realty in the third quarter valued at approximately $170,000. Financial Gravity Companies Inc. acquired a new stake in shares of CoreSite Realty in the fourth quarter valued at approximately $183,000. Intrust Bank NA acquired a new stake in shares of CoreSite Realty in the fourth quarter valued at approximately $200,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of CoreSite Realty in the fourth quarter valued at approximately $208,000. Finally, Jefferies Group LLC acquired a new stake in shares of CoreSite Realty in the fourth quarter valued at approximately $210,000. 97.35% of the stock is owned by institutional investors and hedge funds.

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About CoreSite Realty

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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