Equities analysts expect that CoreSite Realty Corp (NYSE:COR) will report sales of $140.32 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for CoreSite Realty’s earnings, with the lowest sales estimate coming in at $138.89 million and the highest estimate coming in at $141.14 million. CoreSite Realty reported sales of $129.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The firm is scheduled to report its next earnings results on Thursday, April 25th.
According to Zacks, analysts expect that CoreSite Realty will report full year sales of $586.08 million for the current year, with estimates ranging from $580.62 million to $590.83 million. For the next fiscal year, analysts expect that the firm will report sales of $648.57 million, with estimates ranging from $624.22 million to $677.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for CoreSite Realty.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The business had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.89 million. During the same period in the previous year, the firm earned $1.18 EPS. CoreSite Realty’s quarterly revenue was up 10.5% compared to the same quarter last year.
Several research firms have commented on COR. Zacks Investment Research cut CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Cowen restated a “hold” rating and issued a $106.00 target price on shares of CoreSite Realty in a research note on Sunday, February 10th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of CoreSite Realty in a research note on Thursday, February 7th. Jefferies Financial Group restated a “hold” rating and issued a $100.00 target price on shares of CoreSite Realty in a research note on Friday, February 8th. Finally, JPMorgan Chase & Co. cut CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 target price on the stock. in a research note on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $112.00.
In other news, SVP Juan Font sold 287 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $103.80, for a total transaction of $29,790.60. Following the sale, the senior vice president now owns 20,357 shares in the company, valued at approximately $2,113,056.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Steven James Smith sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $101.37, for a total value of $106,235.76. Following the sale, the executive now owns 44,088 shares in the company, valued at approximately $4,469,200.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,440 shares of company stock worth $3,609,034. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in CoreSite Realty by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 402,677 shares of the real estate investment trust’s stock valued at $44,624,000 after acquiring an additional 5,499 shares during the period. First Trust Advisors LP raised its stake in CoreSite Realty by 1,667.0% in the 3rd quarter. First Trust Advisors LP now owns 74,622 shares of the real estate investment trust’s stock valued at $8,293,000 after acquiring an additional 70,399 shares during the period. State Board of Administration of Florida Retirement System raised its stake in CoreSite Realty by 10.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 44,033 shares of the real estate investment trust’s stock valued at $4,894,000 after acquiring an additional 4,003 shares during the period. US Bancorp DE raised its stake in CoreSite Realty by 60.1% in the 3rd quarter. US Bancorp DE now owns 2,358 shares of the real estate investment trust’s stock valued at $263,000 after acquiring an additional 885 shares during the period. Finally, Private Advisor Group LLC raised its stake in CoreSite Realty by 39.7% in the 3rd quarter. Private Advisor Group LLC now owns 6,354 shares of the real estate investment trust’s stock valued at $706,000 after acquiring an additional 1,806 shares during the period. Institutional investors own 93.84% of the company’s stock.
NYSE COR traded up $2.39 during trading on Thursday, hitting $107.14. The stock had a trading volume of 347,458 shares, compared to its average volume of 333,039. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.43 and a beta of 0.74. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.15 and a current ratio of 0.15. CoreSite Realty has a 12 month low of $82.64 and a 12 month high of $117.82.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Thursday, March 28th. CoreSite Realty’s dividend payout ratio is currently 86.96%.
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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