CoreSite Realty (NYSE:COR) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.15-5.25 for the period. CoreSite Realty also updated its FY20 guidance to $5.15-5.25 EPS.
A number of equities analysts have commented on the stock. Wells Fargo & Co upped their price objective on shares of CoreSite Realty from $115.00 to $120.00 and gave the stock an equal weight rating in a research report on Friday, May 1st. Barclays initiated coverage on shares of CoreSite Realty in a research report on Wednesday, July 15th. They issued an underweight rating and a $110.00 price objective for the company. Zacks Investment Research upgraded CoreSite Realty from a sell rating to a hold rating in a research report on Tuesday, July 28th. William Blair reissued an outperform rating on shares of CoreSite Realty in a report on Thursday. Finally, Credit Suisse Group reaffirmed a hold rating and set a $124.00 price objective on shares of CoreSite Realty in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $118.56.
NYSE COR opened at $129.05 on Friday. The business has a 50 day moving average price of $121.98 and a 200 day moving average price of $117.28. The company has a market capitalization of $4.89 billion, a P/E ratio of 65.18, a PEG ratio of 1.19 and a beta of 0.28. CoreSite Realty has a 1-year low of $90.07 and a 1-year high of $130.21. The company has a debt-to-equity ratio of 12.28, a current ratio of 0.14 and a quick ratio of 0.17.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. CoreSite Realty had a return on equity of 39.91% and a net margin of 12.77%. The business had revenue of $150.54 million during the quarter, compared to analysts’ expectations of $149.87 million. During the same quarter last year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that CoreSite Realty will post 5.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, June 29th. CoreSite Realty’s dividend payout ratio (DPR) is presently 95.69%.
In other news, CAO Mark R. Jones sold 750 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $120.66, for a total value of $90,495.00. Following the sale, the chief accounting officer now directly owns 14,121 shares in the company, valued at $1,703,839.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian Warren sold 1,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $120.00, for a total value of $120,000.00. Following the sale, the senior vice president now directly owns 25,084 shares in the company, valued at approximately $3,010,080. The disclosure for this sale can be found here. Insiders sold 4,629,128 shares of company stock worth $560,616,895 over the last quarter. Company insiders own 1.50% of the company’s stock.
About CoreSite Realty
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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