Zacks: Analysts Anticipate CoreSite Realty Corp (NYSE:COR) Will Post Earnings of $1.32 Per Share

Equities research analysts expect CoreSite Realty Corp (NYSE:COR) to announce $1.32 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for CoreSite Realty’s earnings, with estimates ranging from $1.29 to $1.34. CoreSite Realty posted earnings per share of $1.26 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The company is expected to report its next quarterly earnings results on Wednesday, February 5th.

According to Zacks, analysts expect that CoreSite Realty will report full year earnings of $5.11 per share for the current financial year, with EPS estimates ranging from $5.08 to $5.14. For the next financial year, analysts forecast that the business will report earnings of $5.48 per share, with EPS estimates ranging from $5.31 to $5.66. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow CoreSite Realty.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.78). The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $145.19 million. CoreSite Realty had a net margin of 13.48% and a return on equity of 26.30%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share.

A number of brokerages have recently issued reports on COR. Credit Suisse Group reduced their price objective on shares of CoreSite Realty from $103.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, November 11th. BMO Capital Markets reiterated a “hold” rating and set a $112.00 price objective on shares of CoreSite Realty in a report on Thursday, July 25th. Stifel Nicolaus set a $110.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a report on Friday, July 26th. Guggenheim set a $119.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a report on Thursday, September 12th. Finally, Wells Fargo & Co lifted their price objective on shares of CoreSite Realty from $105.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $111.90.

In related news, SVP Brian Warren sold 10,931 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $118.59, for a total transaction of $1,296,307.29. Following the transaction, the senior vice president now directly owns 26,945 shares in the company, valued at $3,195,407.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark R. Jones sold 750 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $120.30, for a total transaction of $90,225.00. Following the transaction, the chief accounting officer now owns 13,882 shares in the company, valued at $1,670,004.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,435 shares of company stock worth $1,801,677. 1.20% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Knuff & Co LLC bought a new stake in CoreSite Realty in the third quarter worth about $31,000. NEXT Financial Group Inc bought a new stake in shares of CoreSite Realty in the third quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC bought a new stake in shares of CoreSite Realty in the second quarter valued at approximately $51,000. Usca Ria LLC bought a new stake in shares of CoreSite Realty in the third quarter valued at approximately $61,000. Finally, Quest Capital Management Inc. ADV bought a new stake in shares of CoreSite Realty in the third quarter valued at approximately $65,000. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE COR traded up $0.02 during mid-day trading on Monday, reaching $115.45. 194,944 shares of the company’s stock traded hands, compared to its average volume of 290,738. The stock has a market cap of $4.28 billion, a P/E ratio of 22.82, a PEG ratio of 1.71 and a beta of 0.45. The business has a 50-day simple moving average of $118.76 and a 200 day simple moving average of $115.69. CoreSite Realty has a 1-year low of $82.64 and a 1-year high of $123.68. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.16 and a quick ratio of 0.16.

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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