FY2019 EPS Estimates for CoreSite Realty Corp (COR) Boosted by Analyst
CoreSite Realty Corp (NYSE:COR) – Stock analysts at Jefferies Financial Group upped their FY2019 earnings estimates for shares of CoreSite Realty in a research report issued to clients and investors on Wednesday, April 10th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $5.29 per share for the year, up from their previous estimate of $5.28. Jefferies Financial Group currently has a “Hold” rating and a $100.00 price target on the stock. Jefferies Financial Group also issued estimates for CoreSite Realty’s Q1 2020 earnings at $1.46 EPS, Q2 2020 earnings at $1.47 EPS, Q3 2020 earnings at $1.41 EPS, Q4 2020 earnings at $1.52 EPS, FY2020 earnings at $5.86 EPS and FY2021 earnings at $6.54 EPS.
Several other brokerages have also commented on COR. Credit Suisse Group set a $111.00 price target on shares of CoreSite Realty and gave the stock a “hold” rating in a research note on Thursday, December 20th. JPMorgan Chase & Co. lowered shares of CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 price target on the stock. in a research note on Monday, February 11th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of CoreSite Realty in a research note on Thursday, February 7th. Zacks Investment Research raised shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Thursday, January 3rd. Finally, Cowen reaffirmed a “hold” rating and set a $106.00 price objective on shares of CoreSite Realty in a report on Sunday, February 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $110.82.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $1.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.26. CoreSite Realty had a net margin of 14.31% and a return on equity of 20.97%. The company had revenue of $139.10 million for the quarter, compared to analyst estimates of $139.89 million. During the same quarter in the prior year, the business posted $1.18 EPS. CoreSite Realty’s quarterly revenue was up 10.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bremer Trust National Association bought a new stake in shares of CoreSite Realty during the 4th quarter worth $54,000. Benjamin F. Edwards & Company Inc. boosted its holdings in CoreSite Realty by 42.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 200 shares during the period. NumerixS Investment Technologies Inc bought a new stake in CoreSite Realty in the 4th quarter valued at $137,000. Jane Street Group LLC bought a new stake in CoreSite Realty in the 3rd quarter valued at $212,000. Finally, Sit Investment Associates Inc. boosted its holdings in CoreSite Realty by 148.4% in the 4th quarter. Sit Investment Associates Inc. now owns 1,925 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 1,150 shares during the period. 94.92% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Derek Mccandless sold 2,069 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.97, for a total transaction of $208,906.93. Following the completion of the sale, the senior vice president now directly owns 28,199 shares of the company’s stock, valued at approximately $2,847,253.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul E. Szurek sold 10,513 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $101.00, for a total transaction of $1,061,813.00. Following the sale, the chief executive officer now directly owns 141,527 shares of the company’s stock, valued at $14,294,227. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,487 shares of company stock valued at $3,614,083. 1.20% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, March 28th. CoreSite Realty’s dividend payout ratio is currently 86.96%.
CoreSite Realty Company Profile
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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