CoreSite Realty (COR) Posts Earnings Results, Misses Estimates By $0.05 EPS
CoreSite Realty (NYSE:COR) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05), Bloomberg Earnings reports. The business had revenue of $138.90 million during the quarter, compared to analysts’ expectations of $140.06 million. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.27 EPS. CoreSite Realty updated its FY 2019 guidance to $5.21-5.31 EPS and its FY19 guidance to $5.21-$5.31 EPS.
NYSE COR opened at $110.20 on Thursday. CoreSite Realty has a 12 month low of $82.64 and a 12 month high of $117.82. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.48 and a beta of 0.74. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 3.38.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Thursday, March 28th. CoreSite Realty’s payout ratio is 86.96%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in CoreSite Realty by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,337,300 shares of the real estate investment trust’s stock worth $593,187,000 after acquiring an additional 204,628 shares during the period. Vanguard Group Inc raised its stake in CoreSite Realty by 4.0% during the 3rd quarter. Vanguard Group Inc now owns 5,337,300 shares of the real estate investment trust’s stock worth $593,187,000 after acquiring an additional 204,628 shares during the period. BlackRock Inc. raised its position in shares of CoreSite Realty by 3.5% during the fourth quarter. BlackRock Inc. now owns 3,883,540 shares of the real estate investment trust’s stock valued at $338,762,000 after buying an additional 133,124 shares during the last quarter. Mairs & Power INC raised its position in shares of CoreSite Realty by 9.4% during the fourth quarter. Mairs & Power INC now owns 949,513 shares of the real estate investment trust’s stock valued at $82,826,000 after buying an additional 81,519 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC bought a new stake in shares of CoreSite Realty during the fourth quarter valued at approximately $53,158,000. Institutional investors own 94.94% of the company’s stock.
A number of equities analysts recently issued reports on COR shares. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of CoreSite Realty in a report 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 on the stock in a report on Thursday, January 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $100.00 price objective on shares of CoreSite Realty in a report on Friday, February 8th. JPMorgan Chase & Co. downgraded shares of CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 price objective on the stock. in a report on Monday, February 11th. Finally, Cowen reissued a “hold” rating and issued a $106.00 price objective on shares of CoreSite Realty in a report on Sunday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. CoreSite Realty currently has a consensus rating of “Hold” and an average target price of $110.82.
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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