CoreSite Realty Corp (COR) Expected to Post Quarterly Sales of $139.99 Million

Wall Street analysts expect CoreSite Realty Corp (NYSE:COR) to announce $139.99 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for CoreSite Realty’s earnings, with estimates ranging from $137.03 million to $142.37 million. CoreSite Realty posted sales of $125.95 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The firm is expected to report its next quarterly earnings report on Thursday, February 14th.

On average, analysts expect that CoreSite Realty will report full year sales of $545.23 million for the current fiscal year, with estimates ranging from $542.28 million to $547.62 million. For the next year, analysts expect that the firm will post sales of $591.74 million, with estimates ranging from $587.70 million to $594.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover CoreSite Realty.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.72). CoreSite Realty had a return on equity of 20.18% and a net margin of 14.91%. The firm had revenue of $139.18 million for the quarter, compared to the consensus estimate of $138.10 million.

Several equities analysts recently issued reports on the company. Jefferies Financial Group cut CoreSite Realty from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $107.00 to $102.00 in a research note on Monday, December 10th. Citigroup set a $104.00 price objective on CoreSite Realty and gave the stock a “hold” rating in a research note on Monday, November 5th. Zacks Investment Research upgraded CoreSite Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. TheStreet cut CoreSite Realty from a “b-” rating to a “c” rating in a research note on Thursday, October 25th. Finally, BMO Capital Markets reduced their price objective on CoreSite Realty from $111.00 to $107.00 and set a “market perform” rating on the stock in a research note on Friday, October 26th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. CoreSite Realty has an average rating of “Hold” and a consensus target price of $116.77.

Shares of COR opened at $96.90 on Tuesday. CoreSite Realty has a 12-month low of $88.37 and a 12-month high of $118.90. The firm has a market cap of $3.56 billion, a P/E ratio of 21.44, a PEG ratio of 1.36 and a beta of 0.57. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 2.95.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.54%. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, December 28th. CoreSite Realty’s dividend payout ratio (DPR) is presently 91.15%.

In other news, insider Mark R. Jones sold 600 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $95.29, for a total transaction of $57,174.00. Following the transaction, the insider now directly owns 15,621 shares of the company’s stock, valued at $1,488,525.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven James Smith sold 3,200 shares of the firm’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $100.00, for a total value of $320,000.00. Following the transaction, the senior vice president now directly owns 44,736 shares in the company, valued at $4,473,600. The disclosure for this sale can be found here. Insiders sold 4,962 shares of company stock worth $491,151 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group increased its holdings in shares of CoreSite Realty by 20,090.0% during the third quarter. Rehmann Capital Advisory Group now owns 12,114 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 12,054 shares during the period. Bridgeworth LLC acquired a new position in shares of CoreSite Realty during the second quarter valued at $166,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of CoreSite Realty during the second quarter valued at $166,000. Capital Advisors Ltd. LLC acquired a new position in shares of CoreSite Realty during the third quarter valued at $169,000. Finally, Zions Bancorporation acquired a new position in shares of CoreSite Realty during the second quarter valued at $180,000. 94.66% of the stock is currently owned by 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 1,350 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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