$125.96 Million in Sales Expected for CoreSite Realty Corp (COR) This Quarter

Wall Street analysts expect CoreSite Realty Corp (NYSE:COR) to announce sales of $125.96 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for CoreSite Realty’s earnings. The lowest sales estimate is $123.70 million and the highest is $127.60 million. CoreSite Realty posted sales of $110.51 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14%. The business is scheduled to issue its next earnings results before the market opens on Thursday, February 8th.

On average, analysts expect that CoreSite Realty will report full-year sales of $125.96 million for the current year, with estimates ranging from $479.50 million to $483.48 million. For the next year, analysts anticipate that the company will post sales of $545.05 million per share, with estimates ranging from $535.50 million to $570.37 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for CoreSite Realty.

CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). The company had revenue of $123.07 million during the quarter, compared to analysts’ expectations of $121.27 million. CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS.

Several research analysts have recently commented on COR shares. Zacks Investment Research upgraded CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Wednesday, September 27th. Citigroup raised their target price on CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Cowen reissued a “buy” rating and issued a $111.00 target price on shares of CoreSite Realty in a research note on Thursday, October 19th. SunTrust Banks reissued a “buy” rating and issued a $121.00 target price on shares of CoreSite Realty in a research note on Friday, November 17th. Finally, ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. CoreSite Realty presently has an average rating of “Buy” and an average target price of $110.75.

In other news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the sale, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at approximately $10,781,697.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Steven James Smith sold 7,121 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total value of $802,750.33. Following the completion of the sale, the senior vice president now directly owns 48,137 shares in the company, valued at $5,426,484.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 150,000 shares of company stock worth $55,000 and have sold 20,121 shares worth $2,224,720. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC boosted its position in shares of CoreSite Realty by 0.6% in the 2nd quarter. Profund Advisors LLC now owns 7,163 shares of the real estate investment trust’s stock worth $742,000 after purchasing an additional 45 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in CoreSite Realty by 1.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,505 shares of the real estate investment trust’s stock worth $467,000 after acquiring an additional 80 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in CoreSite Realty by 2.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 104 shares during the last quarter. Global Endowment Management LP raised its holdings in CoreSite Realty by 1.3% in the 2nd quarter. Global Endowment Management LP now owns 31,990 shares of the real estate investment trust’s stock worth $3,312,000 after acquiring an additional 410 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in CoreSite Realty by 1.4% in the 3rd quarter. Whittier Trust Co. now owns 38,953 shares of the real estate investment trust’s stock worth $4,359,000 after acquiring an additional 551 shares during the last quarter. 97.82% of the stock is currently owned by hedge funds and other institutional investors.

CoreSite Realty (NYSE COR) traded down $0.53 on Tuesday, hitting $107.00. The stock had a trading volume of 355,500 shares, compared to its average volume of 367,421. The stock has a market capitalization of $5,140.00, a P/E ratio of 58.15, a P/E/G ratio of 1.26 and a beta of 0.44. 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 has a 1 year low of $83.82 and a 1 year high of $120.85.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 3.66%. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, December 28th. CoreSite Realty’s payout ratio is presently 213.04%.

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CoreSite Realty Company Profile

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

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