Earnings : What to expect CoreSite Realty (NYSE:COR)

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Earnings results for CoreSite Realty (NYSE:COR)

CoreSite Realty Corporation is expected* to report earnings on 10/29/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.29. The reported EPS for the same quarter last year was $1.28.

CoreSite Realty last issued its earnings results on July 30th, 2020. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $150.54 million for the quarter, compared to the consensus estimate of $149.87 million. Its revenue for the quarter was up 5.3% compared to the same quarter last year. CoreSite Realty has generated $5.10 earnings per share over the last year and currently has a price-to-earnings ratio of 60.2. CoreSite Realty has confirmed that its next quarterly earnings report will be published on Thursday, October 29th, 2020.

Analyst Opinion on CoreSite Realty (NYSE:COR)

9 Wall Street analysts have issued ratings and price targets for CoreSite Realty in the last 12 months. Their average twelve-month price target is $120.88, predicting that the stock has a possible upside of 1.46%. The high price target for COR is $141.00 and the low price target for COR is $100.00. There are currently 2 sell ratings, 4 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Hold.”

CoreSite Realty has received a consensus rating of Hold. The company’s average rating score is 2.11, and is based on 3 buy ratings, 4 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $120.88, CoreSite Realty has a forecasted upside of 1.5% from its current price of $119.13. CoreSite Realty has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: CoreSite Realty (NYSE:COR)

CoreSite Realty is a leading dividend payer. It pays a dividend yield of 4.02%, putting its dividend yield in the top 25% of dividend-paying stocks. CoreSite Realty does not have a long track record of dividend growth. The dividend payout ratio of CoreSite Realty is 95.69%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, CoreSite Realty will have a dividend payout ratio of 87.77% in the coming year. This indicates that CoreSite Realty may not be able to sustain their current dividend.

Insiders buying/selling: CoreSite Realty (NYSE:COR)

In the past three months, CoreSite Realty insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $31,446,101.00 in company stock. Only 1.50% of the stock of CoreSite Realty is held by insiders. 93.32% of the stock of CoreSite Realty is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of CoreSite Realty (NYSE:COR

Earnings for CoreSite Realty are expected to grow by 6.51% in the coming year, from $5.22 to $5.56 per share. The P/E ratio of CoreSite Realty is 60.17, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.65. The P/E ratio of CoreSite Realty is 60.17, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 17.35. CoreSite Realty has a PEG Ratio of 1.13. PEG Ratios above 1 indicate that a company could be overvalued. CoreSite Realty has a P/B Ratio of 20.97. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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