Wall Street analysts predict that CoreSite Realty Corp (NYSE:COR) will announce $143.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for CoreSite Realty’s earnings, with the lowest sales estimate coming in at $141.80 million and the highest estimate coming in at $144.70 million. CoreSite Realty posted sales of $136.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 24th.
According to Zacks, analysts expect that CoreSite Realty will report full-year sales of $584.90 million for the current financial year, with estimates ranging from $581.40 million to $589.90 million. For the next financial year, analysts forecast that the company will post sales of $657.91 million, with estimates ranging from $648.97 million to $672.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CoreSite Realty.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.04). CoreSite Realty had a return on equity of 22.25% and a net margin of 13.96%. The firm had revenue of $138.90 million during the quarter, compared to the consensus estimate of $140.06 million. During the same quarter in the prior year, the business posted $1.27 EPS. CoreSite Realty’s revenue was up 7.2% compared to the same quarter last year.
In related news, SVP Brian Warren sold 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $113.08, for a total transaction of $226,160.00. Following the completion of the sale, the senior vice president now directly owns 25,306 shares of the company’s stock, valued at approximately $2,861,602.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Steven James Smith sold 5,745 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $117.03, for a total value of $672,337.35. Following the sale, the executive now directly owns 41,649 shares of the company’s stock, valued at $4,874,182.47. The disclosure for this sale can be found here. Insiders have sold a total of 16,145 shares of company stock valued at $1,866,706 over the last ninety days. Insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COR. BlackRock Inc. lifted its stake in CoreSite Realty by 3.5% during the 4th quarter. BlackRock Inc. now owns 3,883,540 shares of the real estate investment trust’s stock worth $338,762,000 after acquiring an additional 133,124 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CoreSite Realty by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 433,585 shares of the real estate investment trust’s stock worth $37,821,000 after acquiring an additional 13,494 shares in the last quarter. Texas Permanent School Fund lifted its stake in CoreSite Realty by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 24,015 shares of the real estate investment trust’s stock worth $2,095,000 after acquiring an additional 920 shares in the last quarter. Advisor Group Inc. lifted its stake in CoreSite Realty by 13.8% during the 4th quarter. Advisor Group Inc. now owns 5,954 shares of the real estate investment trust’s stock worth $521,000 after acquiring an additional 723 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in CoreSite Realty by 2.0% during the 4th quarter. State of Tennessee Treasury Department now owns 29,896 shares of the real estate investment trust’s stock worth $2,608,000 after acquiring an additional 594 shares in the last quarter. 94.41% of the stock is owned by institutional investors.
Shares of COR traded down $0.08 during mid-day trading on Friday, reaching $118.09. The company had a trading volume of 280,111 shares, compared to its average volume of 248,893. CoreSite Realty has a twelve month low of $82.64 and a twelve month high of $121.64. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 3.95. The stock’s 50-day moving average price is $116.89. The stock has a market cap of $4.36 billion, a P/E ratio of 23.34, a P/E/G ratio of 1.73 and a beta of 0.56.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 4.13%. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Thursday, June 27th. CoreSite Realty’s dividend payout ratio (DPR) is currently 96.44%.
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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