$145.33 Million in Sales Expected for CoreSite Realty Corp (NYSE:COR) This Quarter

Equities analysts expect that CoreSite Realty Corp (NYSE:COR) will announce $145.33 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for CoreSite Realty’s earnings, with the highest sales estimate coming in at $148.69 million and the lowest estimate coming in at $143.60 million. CoreSite Realty reported sales of $139.18 million during the same quarter last year, which indicates a positive year over year growth rate of 4.4%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, October 31st.

According to Zacks, analysts expect that CoreSite Realty will report full-year sales of $575.26 million for the current fiscal year, with estimates ranging from $571.20 million to $577.70 million. For the next fiscal year, analysts expect that the firm will report sales of $641.33 million, with estimates ranging from $628.32 million to $659.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CoreSite Realty.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.75). The company had revenue of $142.91 million for the quarter, compared to analyst estimates of $142.85 million. CoreSite Realty had a net margin of 13.82% and a return on equity of 24.19%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS.



Several research analysts recently issued reports on COR shares. ValuEngine lowered shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Guggenheim set a $119.00 price target on shares of CoreSite Realty and gave the company a “hold” rating in a research note on Thursday, September 12th. Credit Suisse Group decreased their price target on shares of CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Zacks Investment Research cut shares of CoreSite Realty from a “hold” rating to a “sell” rating in a research note on Monday, September 30th. Finally, Raymond James decreased their price target on shares of CoreSite Realty from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $108.80.

In other CoreSite Realty news, CEO Paul E. Szurek sold 3,590 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $110.26, for a total value of $395,833.40. Following the sale, the chief executive officer now directly owns 174,714 shares in the company, valued at $19,263,965.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark R. Jones sold 750 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $107.79, for a total transaction of $80,842.50. Following the completion of the sale, the chief accounting officer now owns 14,632 shares in the company, valued at $1,577,183.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 806,504 shares of company stock worth $89,305,107. Insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of COR. Zions Bancorporation N.A. raised its stake in CoreSite Realty by 5.7% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,686 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 91 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in CoreSite Realty by 1.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,790 shares of the real estate investment trust’s stock worth $782,000 after purchasing an additional 100 shares in the last quarter. BB&T Securities LLC increased its position in CoreSite Realty by 4.7% during the 2nd quarter. BB&T Securities LLC now owns 2,223 shares of the real estate investment trust’s stock worth $256,000 after purchasing an additional 100 shares in the last quarter. Profund Advisors LLC grew its holdings in CoreSite Realty by 3.4% during the 2nd quarter. Profund Advisors LLC now owns 5,547 shares of the real estate investment trust’s stock worth $639,000 after acquiring an additional 184 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in CoreSite Realty by 0.3% during the 1st quarter. California State Teachers Retirement System now owns 57,561 shares of the real estate investment trust’s stock worth $6,160,000 after acquiring an additional 193 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

NYSE:COR traded up $1.31 during mid-day trading on Friday, hitting $118.72. The company’s stock had a trading volume of 3,071 shares, compared to its average volume of 272,750. CoreSite Realty has a fifty-two week low of $82.64 and a fifty-two week high of $122.45. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.78 and a beta of 0.48. The stock has a fifty day moving average of $117.13 and a 200-day moving average of $114.00.

The firm also recently disclosed a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $1.22 dividend. The ex-dividend date is Friday, September 27th. This represents a yield of 4.1%. CoreSite Realty’s payout ratio is presently 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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Earnings History and Estimates for CoreSite Realty (NYSE:COR)

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