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

Wall Street brokerages expect CoreSite Realty Corp (NYSE:COR) to report sales of $125.96 million for the current quarter, according to Zacks. Seven analysts have made estimates for CoreSite Realty’s earnings. The highest sales estimate is $127.60 million and the lowest is $123.70 million. CoreSite Realty posted sales of $110.51 million during the same quarter last year, which would indicate a positive year over year growth rate of 14%. The company is expected to announce its next quarterly earnings results on Thursday, February 8th.

On average, analysts expect that CoreSite Realty will report full-year sales of $125.96 million for the current financial year, with estimates ranging from $479.50 million to $483.48 million. For the next financial year, analysts forecast that the company will report sales of $544.03 million per share, with estimates ranging from $535.50 million to $570.37 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CoreSite Realty.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The firm had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $125.71 million. During the same quarter in the prior year, the business earned $1.06 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis.

COR has been the topic of several recent research reports. Credit Suisse Group set a $111.00 price objective on shares of CoreSite Realty and gave the stock a “hold” rating in a research note on Friday, October 27th. Citigroup increased their price objective on shares of CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Jefferies Group reiterated a “buy” rating on shares of CoreSite Realty in a research note on Thursday. Zacks Investment Research cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of CoreSite Realty in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $124.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $112.82.

In other CoreSite Realty news, SVP Steven James Smith sold 2,261 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $106.72, for a total transaction of $241,293.92. Following the sale, the senior vice president now owns 42,915 shares in the company, valued at approximately $4,579,888.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 150,000 shares of company stock worth $55,000 and have sold 12,533 shares worth $1,379,689. 1.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COR. PNC Financial Services Group Inc. raised its stake in CoreSite Realty by 2.5% during 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 period. UBS Asset Management Americas Inc. raised its stake in CoreSite Realty by 26.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,345 shares of the real estate investment trust’s stock worth $2,831,000 after acquiring an additional 5,698 shares during the period. Dimensional Fund Advisors LP raised its stake in CoreSite Realty by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,515 shares of the real estate investment trust’s stock worth $49,437,000 after acquiring an additional 19,551 shares during the period. OxFORD Asset Management LLP bought a new stake in CoreSite Realty during the 2nd quarter worth approximately $1,164,000. Finally, Balyasny Asset Management LLC raised its stake in CoreSite Realty by 26.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 5,100 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 1,072 shares during the period. Institutional investors own 97.99% of the company’s stock.

CoreSite Realty (NYSE COR) opened at $96.37 on Friday. CoreSite Realty has a one year low of $83.82 and a one year high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm has a market cap of $4,630.00, a P/E ratio of 52.38, a PEG ratio of 1.19 and a beta of 0.33.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.98 per share. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 28th. This represents a $3.92 dividend on an annualized basis and a yield of 4.07%. CoreSite Realty’s dividend payout ratio (DPR) is presently 213.04%.

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About CoreSite Realty

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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