CoreSite Realty Corp (NYSE:COR) – Equities researchers at Mitsubishi UFJ Financial Group cut their Q2 2019 EPS estimates for shares of CoreSite Realty in a research note issued to investors on Thursday, February 7th. Mitsubishi UFJ Financial Group analyst S. Bersey now forecasts that the real estate investment trust will post earnings of $1.29 per share for the quarter, down from their prior forecast of $1.30. Mitsubishi UFJ Financial Group currently has a “Overweight” rating on the stock. Mitsubishi UFJ Financial Group also issued estimates for CoreSite Realty’s Q3 2019 earnings at $1.28 EPS, Q4 2019 earnings at $1.33 EPS, FY2019 earnings at $5.20 EPS, Q1 2020 earnings at $1.32 EPS and Q3 2020 earnings at $1.35 EPS.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. CoreSite Realty had a net margin of 14.31% and a return on equity of 20.97%. The business had revenue of $139.10 million for the quarter, compared to analysts’ expectations of $139.89 million. During the same period last year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Thursday, January 3rd. TheStreet cut shares of CoreSite Realty from a “b-” rating to a “c” rating in a report on Thursday, October 25th. Cowen restated a “hold” rating and issued a $106.00 target price on shares of CoreSite Realty in a report on Sunday. Jefferies Financial Group restated a “hold” rating and issued a $100.00 target price on shares of CoreSite Realty in a report on Friday. Finally, BMO Capital Markets restated a “hold” rating and issued a $111.00 target price on shares of CoreSite Realty in a report on Sunday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $112.86.
Shares of NYSE COR opened at $99.28 on Monday. CoreSite Realty has a one year low of $82.64 and a one year high of $117.82. The company has a current ratio of 0.15, a quick ratio of 0.21 and a debt-to-equity ratio of 3.38. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72.
A number of hedge funds have recently made changes to their positions in the stock. Retirement Systems of Alabama lifted its stake in CoreSite Realty by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 47,583 shares of the real estate investment trust’s stock worth $4,151,000 after acquiring an additional 149 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in CoreSite Realty by 42.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 200 shares during the period. Daiwa Securities Group Inc. lifted its stake in CoreSite Realty by 3.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the real estate investment trust’s stock worth $497,000 after acquiring an additional 200 shares during the period. State of Alaska Department of Revenue lifted its stake in CoreSite Realty by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 16,434 shares of the real estate investment trust’s stock worth $1,432,000 after acquiring an additional 261 shares during the period. Finally, Brookstone Capital Management lifted its stake in CoreSite Realty by 10.9% in the fourth quarter. Brookstone Capital Management now owns 2,760 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 271 shares during the period. 96.25% of the stock is owned by institutional investors.
In other news, SVP Steven James Smith sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $100.00, for a total value of $320,000.00. Following the transaction, the senior vice president now owns 44,736 shares in the company, valued at $4,473,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were issued a $1.10 dividend. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, December 28th. This represents a $4.40 annualized dividend and a dividend yield of 4.43%. CoreSite Realty’s dividend payout ratio (DPR) is currently 86.96%.
About CoreSite Realty
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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