Brokerages Anticipate CoreSite Realty Corporation (COR) Will Post Quarterly Sales of $122.76 Million
Analysts expect CoreSite Realty Corporation (NYSE:COR) to post sales of $122.76 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for CoreSite Realty Corporation’s earnings. The lowest sales estimate is $103.80 million and the highest is $127.60 million. CoreSite Realty Corporation reported sales of $110.51 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The business is scheduled to issue its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that CoreSite Realty Corporation will report full year sales of $122.76 million for the current year, with estimates ranging from $397.90 million to $483.48 million. For the next year, analysts anticipate that the business will report sales of $530.77 million per share, with estimates ranging from $438.50 million to $570.37 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow CoreSite Realty Corporation.
CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.64). CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. The firm had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis.
Shares of CoreSite Realty Corporation (NYSE:COR) traded down $1.97 during trading on Wednesday, hitting $115.45. 43,599 shares of the stock were exchanged, compared to its average volume of 429,837. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29. CoreSite Realty Corporation has a 12 month low of $64.81 and a 12 month high of $120.85. The company has a market cap of $4,039.81, a P/E ratio of 26.88, a PEG ratio of 1.60 and a beta of 0.43.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.12%. CoreSite Realty Corporation’s dividend payout ratio is currently 195.65%.
In related news, CEO Paul E. Szurek sold 3,805 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total value of $447,011.40. Following the completion of the sale, the chief executive officer now directly owns 93,405 shares in the company, valued at $10,973,219.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Derek Mccandless sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the sale, the senior vice president now owns 36,613 shares of the company’s stock, valued at $4,004,363.81. The disclosure for this sale can be found here. Insiders have sold a total of 31,805 shares of company stock valued at $1,876,481 over the last quarter. Corporate insiders own 1.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in shares of CoreSite Realty Corporation by 53.9% during the second quarter. BNP Paribas Arbitrage SA now owns 13,108 shares of the real estate investment trust’s stock worth $1,357,000 after purchasing an additional 4,593 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of CoreSite Realty Corporation by 111.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 49,987 shares of the real estate investment trust’s stock worth $5,175,000 after purchasing an additional 26,307 shares during the last quarter. US Bancorp DE lifted its position in shares of CoreSite Realty Corporation by 6.7% during the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 75 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of CoreSite Realty Corporation by 1.6% during the second quarter. Eagle Asset Management Inc. now owns 63,673 shares of the real estate investment trust’s stock worth $6,592,000 after purchasing an additional 974 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of CoreSite Realty Corporation during the first quarter worth $302,000. Institutional investors and hedge funds own 99.13% of the company’s stock.
About CoreSite Realty Corporation
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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