FY2019 EPS Estimates for CoreSite Realty Corp (NYSE:COR) Decreased by Analyst

CoreSite Realty Corp (NYSE:COR) – Analysts at KeyCorp decreased their FY2019 EPS estimates for CoreSite Realty in a research note issued to investors on Wednesday, December 11th. KeyCorp analyst J. Sadler now expects that the real estate investment trust will post earnings of $5.12 per share for the year, down from their previous forecast of $5.13.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Co boosted their target price on CoreSite Realty from $105.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Raymond James boosted their target price on CoreSite Realty from $110.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Zacks Investment Research cut CoreSite Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. ValuEngine upgraded CoreSite Realty from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Guggenheim set a $119.00 target price on CoreSite Realty and gave the stock a “hold” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $112.20.

NYSE:COR opened at $110.02 on Friday. CoreSite Realty has a 12 month low of $82.64 and a 12 month high of $123.68. The stock has a 50 day moving average of $115.10 and a two-hundred day moving average of $115.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 5.67. The firm has a market cap of $4.17 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42.

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

A number of large investors have recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC lifted its stake in CoreSite Realty by 20.0% during the third quarter. Princeton Global Asset Management LLC now owns 5,029 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 838 shares in the last quarter. Man Group plc increased its holdings in CoreSite Realty by 24.2% in the third quarter. Man Group plc now owns 95,900 shares of the real estate investment trust’s stock valued at $11,685,000 after buying an additional 18,700 shares in the last quarter. Chilton Capital Management LLC purchased a new position in CoreSite Realty in the third quarter valued at about $7,424,000. Penserra Capital Management LLC increased its holdings in CoreSite Realty by 25.1% in the third quarter. Penserra Capital Management LLC now owns 5,699 shares of the real estate investment trust’s stock valued at $694,000 after buying an additional 1,143 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in CoreSite Realty by 1.0% in the third quarter. California State Teachers Retirement System now owns 58,896 shares of the real estate investment trust’s stock valued at $7,176,000 after buying an additional 582 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

In related news, SVP Brian Warren sold 10,931 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $118.59, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark R. Jones sold 750 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $120.30, for a total value of $90,225.00. Following the completion of 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 11,845 shares of company stock worth $1,405,843. Insiders own 1.20% of the company’s stock.

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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Earnings History and Estimates for CoreSite Realty (NYSE:COR)

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