Equities analysts expect that CoreSite Realty Corp (NYSE:COR) will announce sales of $125.96 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for CoreSite Realty’s earnings, with the lowest sales estimate coming in at $123.70 million and the highest estimate coming in at $127.60 million. CoreSite Realty posted sales of $110.51 million during the same quarter last year, which would indicate a positive year over year growth rate of 14%. The business is scheduled to issue its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that CoreSite Realty will report full-year sales of $125.96 million for the current fiscal year, with estimates ranging from $479.50 million to $483.48 million. For the next financial year, analysts forecast that the firm will post sales of $545.05 million per share, with estimates ranging from $535.50 million to $570.37 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow CoreSite Realty.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). The company had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. CoreSite Realty’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS.
Several analysts recently commented on COR shares. Citigroup boosted their price target on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. BidaskClub upgraded CoreSite Realty from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Credit Suisse Group set a $111.00 price objective on CoreSite Realty and gave the company a “hold” rating in a research report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of CoreSite Realty in a research report on Tuesday, September 12th. Finally, Zacks Investment Research downgraded CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $109.55.
Shares of CoreSite Realty (COR) traded down $0.12 during mid-day trading on Thursday, reaching $113.08. The company had a trading volume of 455,300 shares, compared to its average volume of 424,237. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm has a market cap of $3,876.14, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 1.49 and a beta of 0.44. CoreSite Realty has a twelve month low of $76.96 and a twelve month high of $120.85.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. CoreSite Realty’s payout ratio is presently 195.65%.
In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the sale, the chief financial officer now owns 98,562 shares in the company, valued at $10,781,697.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Derek Mccandless sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the sale, the senior vice president now owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COR. Penserra Capital Management LLC acquired a new position in CoreSite Realty in the second quarter valued at about $103,000. US Bancorp DE grew its stake in CoreSite Realty by 6.7% in the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 75 shares during the period. IFP Advisors Inc boosted its position in shares of CoreSite Realty by 14.6% during the second quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 174 shares during the period. Zions Bancorporation acquired a new position in shares of CoreSite Realty during the third quarter worth about $170,000. Finally, Schroder Investment Management Group acquired a new position in shares of CoreSite Realty during the second quarter worth about $188,000. Institutional investors and hedge funds own 97.74% of the company’s stock.
CoreSite Realty Company Profile
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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