Brokerages expect that CoreSite (NYSE:COR) will announce $1.23 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for CoreSite’s earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.27. CoreSite posted earnings per share of $1.13 in the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The firm is expected to report its next earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that CoreSite will report full year earnings of $5.00 per share for the current year, with EPS estimates ranging from $4.93 to $5.05. For the next fiscal year, analysts forecast that the firm will report earnings of $5.56 per share, with EPS estimates ranging from $5.23 to $5.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover CoreSite.

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

A number of analysts have weighed in on the stock. Mitsubishi UFJ Financial Group assumed coverage on shares of CoreSite in a research report on Wednesday, January 10th. They set an “overweight” rating and a $124.00 target price for the company. Credit Suisse Group set a $111.00 target price on shares of CoreSite and gave the company a “hold” rating in a research report on Wednesday, January 17th. Moffett Nathanson assumed coverage on shares of CoreSite in a research report on Monday, April 9th. They set a “buy” rating and a $125.00 target price for the company. KeyCorp raised shares of CoreSite from a “sector weight” rating to an “overweight” rating and increased their target price for the company from $98.19 to $110.00 in a research report on Monday, March 12th. Finally, TheStreet downgraded shares of CoreSite from a “b-” rating to a “c+” rating in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $113.64.

In other news, SVP Steven James Smith sold 492 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $102.42, for a total transaction of $50,390.64. Following the completion of the sale, the senior vice president now owns 36,101 shares of the company’s stock, valued at approximately $3,697,464.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey S. Finnin sold 10,396 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $93.30, for a total transaction of $969,946.80. Following the sale, the chief financial officer now directly owns 84,827 shares of the company’s stock, valued at approximately $7,914,359.10. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 98,000 shares of company stock valued at $31,280 and have sold 39,510 shares valued at $3,822,268. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in COR. Atlantic Trust Group LLC acquired a new stake in shares of CoreSite during the 3rd quarter worth approximately $35,764,000. BlackRock Inc. grew its position in shares of CoreSite by 6.2% during the 4th quarter. BlackRock Inc. now owns 3,362,411 shares of the real estate investment trust’s stock worth $382,978,000 after buying an additional 196,323 shares during the period. Janus Henderson Group PLC bought a new position in shares of CoreSite in the 3rd quarter worth $9,571,000. Neuberger Berman Group LLC lifted its holdings in shares of CoreSite by 26.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 319,064 shares of the real estate investment trust’s stock worth $35,703,000 after purchasing an additional 67,201 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of CoreSite by 3.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,768,110 shares of the real estate investment trust’s stock worth $201,387,000 after purchasing an additional 65,560 shares in the last quarter. 99.13% of the stock is owned by institutional investors.

NYSE:COR traded up $0.01 on Monday, reaching $105.21. 183,479 shares of the stock traded hands, compared to its average volume of 404,034. The company has a market capitalization of $3,602.38, a PE ratio of 23.28, a P/E/G ratio of 1.24 and a beta of 0.39. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.27 and a current ratio of 0.27. CoreSite has a 1-year low of $89.76 and a 1-year high of $120.85.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Wednesday, March 28th. CoreSite’s dividend payout ratio (DPR) is 86.73%.

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About CoreSite

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 1,200 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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