CoreSite Realty Corporation (COR) to Release Earnings on Thursday
CoreSite Realty Corporation (NYSE:COR) is set to release its earnings data before the market opens on Thursday, October 26th. Analysts expect CoreSite Realty Corporation to post earnings of $0.40 per share for the quarter. CoreSite Realty Corporation has set its FY17 guidance at $4.39-4.47 EPS.
CoreSite Realty Corporation (NYSE:COR) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. CoreSite Realty Corporation had a return on equity of 14.14% and a net margin of 15.15%. The company had revenue of $117.89 million during the quarter, compared to analysts’ expectations of $117.32 million. During the same period in the prior year, the business earned $0.89 earnings per share. CoreSite Realty Corporation’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, analysts expect CoreSite Realty Corporation to post $1.82 EPS for the current fiscal year and $2.16 EPS for the next fiscal year.
Shares of CoreSite Realty Corporation (COR) opened at 112.77 on Tuesday. The company has a market capitalization of $3.86 billion, a PE ratio of 64.88 and a beta of 0.56. The stock has a 50 day moving average price of $112.74 and a 200 day moving average price of $106.41. CoreSite Realty Corporation has a 52-week low of $64.81 and a 52-week high of $120.85.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $3.60 annualized dividend and a dividend yield of 3.19%. CoreSite Realty Corporation’s dividend payout ratio is currently 206.90%.
In related news, CEO Paul E. Szurek sold 3,805 shares of the business’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 approximately $10,973,219.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derek Mccandless sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total value of $1,107,400.00. Following the completion of the sale, the senior vice president now owns 48,913 shares of the company’s stock, valued at $5,416,625.62. The disclosure for this sale can be found here. Insiders sold a total of 21,805 shares of company stock valued at $2,440,331 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on the company. BidaskClub downgraded CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co assumed coverage on CoreSite Realty Corporation in a research note on Monday, September 25th. They set a “neutral” rating and a $118.00 target price for the company. Cowen and Company reiterated a “buy” rating and set a $111.00 target price on shares of CoreSite Realty Corporation in a research note on Thursday, October 19th. Zacks Investment Research upgraded CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Wednesday, September 27th. Finally, Credit Suisse Group initiated coverage on CoreSite Realty Corporation in a research note on Friday, June 30th. They set a “neutral” rating and a $103.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.20.
CoreSite Realty Corporation 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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