CoreSite Realty (NYSE:COR) Updates FY18 Earnings Guidance

CoreSite Realty (NYSE:COR) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.00-5.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.03.

Shares of NYSE COR opened at $112.17 on Friday. The company has a market capitalization of $3.95 billion, a PE ratio of 24.82, a PEG ratio of 1.46 and a beta of 0.37. CoreSite Realty has a 52-week low of $89.76 and a 52-week high of $120.85. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.23 and a current ratio of 0.23.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.67). The firm had revenue of $136.40 million during the quarter, compared to analyst estimates of $132.99 million. CoreSite Realty had a return on equity of 19.09% and a net margin of 15.23%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. equities research analysts expect that CoreSite Realty will post 5.07 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were given a $1.03 dividend. The ex-dividend date was Thursday, June 28th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.98. CoreSite Realty’s payout ratio is 91.15%.

Several analysts have recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of CoreSite Realty from $107.00 to $112.00 and gave the company a hold rating in a research note on Friday, April 27th. Zacks Investment Research upgraded shares of CoreSite Realty from a sell rating to a hold rating in a research note on Friday, July 27th. BMO Capital Markets assumed coverage on shares of CoreSite Realty in a research note on Tuesday, July 17th. They issued a market perform rating and a $119.00 price objective for the company. TheStreet upgraded shares of CoreSite Realty from a c+ rating to a b- rating in a research note on Tuesday, May 15th. Finally, Citigroup lifted their price objective on shares of CoreSite Realty from $105.00 to $116.00 and gave the company a neutral rating in a research note on Monday, July 30th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $119.00.

In other CoreSite Realty news, SVP Brian Warren sold 1,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $114.27, for a total transaction of $114,270.00. Following the completion of the sale, the senior vice president now owns 36,623 shares in the company, valued at approximately $4,184,910.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark R. Jones sold 600 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $113.31, for a total transaction of $67,986.00. Following the sale, the insider now owns 16,221 shares of the company’s stock, valued at approximately $1,838,001.51. The disclosure for this sale can be found here. Insiders have sold a total of 2,268,100 shares of company stock valued at $253,827,461 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for CoreSite Realty (NYSE:COR)

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