CoreSite Realty (COR) Updates FY 2019 Earnings Guidance

CoreSite Realty (NYSE:COR) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.21-5.31 for the period. CoreSite Realty also updated its FY19 guidance to $5.21-$5.31 EPS.

COR stock traded down $1.10 during mid-day trading on Thursday, reaching $96.75. The company’s stock had a trading volume of 657,693 shares, compared to its average volume of 365,357. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.32 and a beta of 0.72. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 2.95. CoreSite Realty has a fifty-two week low of $82.64 and a fifty-two week high of $117.82.

Get CoreSite Realty alerts:

CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.26. The company had revenue of $139.10 million during the quarter, compared to the consensus estimate of $139.89 million. CoreSite Realty had a net margin of 14.91% and a return on equity of 20.18%. CoreSite Realty’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 EPS. As a group, equities analysts forecast that CoreSite Realty will post 5.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were issued a dividend of $1.10 per share. The ex-dividend date was Friday, December 28th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.55%. This is an increase from CoreSite Realty’s previous quarterly dividend of $1.03. CoreSite Realty’s dividend payout ratio (DPR) is currently 97.35%.

A number of analysts have recently issued reports on COR shares. BMO Capital Markets restated a hold rating and set a $111.00 price target on shares of CoreSite Realty in a report on Sunday, October 21st. Royal Bank of Canada downgraded shares of CoreSite Realty from an outperform rating to a sector perform rating in a report on Friday, October 26th. TheStreet downgraded shares of CoreSite Realty from a b- rating to a c rating in a report on Thursday, October 25th. Zacks Investment Research upgraded shares of CoreSite Realty from a sell rating to a hold rating in a report on Tuesday, October 30th. Finally, Citigroup set a $104.00 price target on shares of CoreSite Realty and gave the stock a hold rating in a report on Monday, November 5th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. CoreSite Realty presently has a consensus rating of Hold and a consensus price target of $114.46.

In related news, SVP Steven James Smith sold 3,200 shares of the stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $100.00, for a total transaction of $320,000.00. Following the completion of the transaction, the senior vice president now owns 44,736 shares of the company’s stock, valued at approximately $4,473,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

COPYRIGHT VIOLATION WARNING: “CoreSite Realty (COR) Updates FY 2019 Earnings Guidance” was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.tickerreport.com/banking-finance/4134172/coresite-realty-cor-updates-fy-2019-earnings-guidance.html.

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.

Featured Story: Momentum Investing