Analysts predict that CoreSite Realty Corp (NYSE:COR) will report sales of $133.20 million for the current quarter, according to Zacks. Six analysts have made estimates for CoreSite Realty’s earnings, with the highest sales estimate coming in at $133.90 million and the lowest estimate coming in at $132.69 million. CoreSite Realty reported sales of $117.89 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13%. The company is scheduled to issue its next earnings report on Thursday, July 26th.
On average, analysts expect that CoreSite Realty will report full year sales of $541.16 million for the current fiscal year, with estimates ranging from $538.90 million to $542.88 million. For the next financial year, analysts anticipate that the company will post sales of $606.90 million per share, with estimates ranging from $596.20 million to $621.55 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover CoreSite Realty.
CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, April 26th. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.64). CoreSite Realty had a return on equity of 17.91% and a net margin of 15.46%. The firm had revenue of $129.60 million for the quarter, compared to analyst estimates of $129.43 million. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis.
A number of analysts have recently weighed in on COR shares. TheStreet raised CoreSite Realty from a “c+” rating to a “b-” rating in a research report on Tuesday, May 15th. Moffett Nathanson started coverage on CoreSite Realty in a research report on Monday, April 9th. They set a “buy” rating and a $125.00 price objective on the stock. Robert W. Baird set a $126.00 price objective on CoreSite Realty and gave the stock a “buy” rating in a research report on Saturday, March 10th. Credit Suisse Group upped their price objective on CoreSite Realty from $107.00 to $112.00 and gave the stock a “hold” rating in a research report on Friday, April 27th. Finally, Raymond James raised CoreSite Realty from a “market perform” rating to an “outperform” rating in a research report on Monday, March 12th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.54.
CoreSite Realty opened at $108.12 on Tuesday, MarketBeat.com reports. CoreSite Realty has a twelve month low of $89.76 and a twelve month high of $120.85. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market cap of $3.76 billion, a PE ratio of 23.92, a P/E/G ratio of 1.28 and a beta of 0.42.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, June 28th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.98. CoreSite Realty’s dividend payout ratio is 86.73%.
In related news, SVP Juan Font sold 1,250 shares of the stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $103.98, for a total value of $129,975.00. Following the transaction, the senior vice president now owns 19,777 shares of the company’s stock, valued at $2,056,412.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark R. Jones sold 600 shares of the stock in a transaction on Friday, May 11th. The shares were sold at an average price of $107.60, for a total value of $64,560.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,821 shares in the company, valued at approximately $1,809,939.60. The disclosure for this sale can be found here. Insiders sold 17,350 shares of company stock worth $1,832,860 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC purchased a new position in CoreSite Realty in the first quarter valued at $131,000. Cynosure Advisors LLC increased its holdings in CoreSite Realty by 46.9% in the first quarter. Cynosure Advisors LLC now owns 4,115 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 1,314 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in CoreSite Realty in the first quarter valued at $380,000. Heitman Real Estate Securities LLC purchased a new position in shares of CoreSite Realty during the first quarter worth about $18,041,000. Finally, Suntrust Banks Inc. grew its holdings in shares of CoreSite Realty by 4.0% during the first quarter. Suntrust Banks Inc. now owns 21,700 shares of the real estate investment trust’s stock worth $2,174,000 after purchasing an additional 826 shares during the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.
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 1,250 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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