Analysts forecast that CoreSite Realty Corp (NYSE:COR) will announce sales of $143.26 million for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for CoreSite Realty’s earnings, with the highest sales estimate coming in at $144.70 million and the lowest estimate coming in at $141.80 million. CoreSite Realty posted sales of $136.45 million during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, July 24th.
On average, 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 year, analysts anticipate that the firm will report sales of $657.91 million, with estimates ranging from $648.97 million to $672.90 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover CoreSite Realty.
CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.04). The company had revenue of $138.90 million for the quarter, compared to analyst estimates of $140.06 million. CoreSite Realty had a return on equity of 22.25% and a net margin of 13.96%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS.
In other news, CAO Mark R. Jones sold 600 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $111.39, for a total value of $66,834.00. Following the transaction, the chief accounting officer now owns 15,882 shares of the company’s stock, valued at approximately $1,769,095.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian Warren sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $113.08, for a total value of $226,160.00. Following the completion of the transaction, the senior vice president now directly owns 25,306 shares in the company, valued at approximately $2,861,602.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,145 shares of company stock worth $1,866,706. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in COR. Lasalle Investment Management Securities LLC acquired a new position in shares of CoreSite Realty in the 4th quarter valued at $53,158,000. Norges Bank acquired a new position in CoreSite Realty during the 4th quarter worth about $35,131,000. JPMorgan Chase & Co. lifted its stake in CoreSite Realty by 21.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,519,234 shares of the real estate investment trust’s stock worth $162,588,000 after acquiring an additional 264,542 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in CoreSite Realty by 5,479.5% during the 1st quarter. Centersquare Investment Management LLC now owns 226,528 shares of the real estate investment trust’s stock worth $24,243,000 after acquiring an additional 222,468 shares in the last quarter. Finally, 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. 94.41% of the stock is currently owned by institutional investors and hedge funds.
NYSE COR traded down $0.08 on Friday, reaching $118.09. 280,111 shares of the company were exchanged, compared to its average volume of 248,893. The firm has a fifty day simple moving average of $116.89. The company has a market cap of $4.36 billion, a PE ratio of 23.34, a P/E/G ratio of 1.73 and a beta of 0.56. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.17 and a quick ratio of 0.17. CoreSite Realty has a fifty-two week low of $82.64 and a fifty-two week high of $121.64.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Thursday, June 27th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $1.10. CoreSite Realty’s dividend payout ratio is 96.44%.
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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