CoreSite Realty Corp (COR) Releases Earnings Results, Beats Expectations By $0.04 EPS

CoreSite Realty Corp (COR) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.86 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.82. The company posted revenue of $92.48 million in the period, compared to analysts expectations of $93.53 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on CoreSite Realty Corp. Company shares were Reiterated by RBC Capital Mkts on Feb 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $64 .

CoreSite Realty Corp opened for trading at $72.65 and hit $72.67 on the upside on Wednesday, eventually ending the session at $72.3, with a gain of 0.11% or 0.08 points. The heightened volatility saw the trading volume jump to 2,59,048 shares. Company has a market cap of $2,216 M.

In a different news, on Apr 11, 2016, Brian Warren (SVP, Engineering & Product) sold 300 shares at $70.75 per share price. According to the SEC, on Apr 11, 2016, Dominic M. Tobin (SVP, Operations) sold 495 shares at $70.79 per share price. On Apr 11, 2016, Thomas M. Ray (President and CEO) sold 4,185 shares at $70.75 per share price, according to the Form-4 filing with the securities and exchange commission.

CoreSite Realty Corporation (CoreSite) is an integrated self-administered and self-managed real estate investment trust (REIT). CoreSite L.P. (Operating Partnership) is a limited partnership of which the Company is the sole general partner. Through its controlling interest in CoreSite L.P. the Company is engaged in the business of ownership acquisition construction and management of data centers across a range of markets in the United States including the New York; Northern Virginia which include Washington D.C.; San Francisco Bay areas; Los Angeles; Chicago; Boston; Miami and Denver. The Company offers its solutions to approximately 800 enterprises network operators cloud providers and supporting service providers. The Company’s property portfolio includes approximately 16 operating data center facilities development projects space and land held for development which collectively consists of approximately 2.7 million net rentable square feet.

CoreSite Realty Corp

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