CoreSite Realty Corp (COR) To Go Ex-Dividend on December 28th

CoreSite Realty Corp (NYSE:COR) announced a quarterly dividend on Friday, December 8th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.98 per share by the real estate investment trust on Tuesday, January 16th. This represents a $3.92 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90.

CoreSite Realty has increased its dividend payment by an average of 25.2% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. CoreSite Realty has a dividend payout ratio of 87.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect CoreSite Realty to earn $5.04 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 77.8%.

CoreSite Realty (COR) traded up $0.27 during midday trading on Wednesday, reaching $114.17. 123,400 shares of the company’s stock were exchanged, compared to its average volume of 421,245. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $3,900.11, a PE ratio of 62.05, a PEG ratio of 1.50 and a beta of 0.44. CoreSite Realty has a 1 year low of $76.96 and a 1 year high of $120.85.

CoreSite Realty (NYSE:COR) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). The business had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. CoreSite Realty’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. analysts expect that CoreSite Realty will post 4.48 EPS for the current fiscal year.

In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total transaction of $875,120.00. Following the transaction, the chief financial officer now owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total transaction of $546,850.00. Following the transaction, the senior vice president now directly owns 36,613 shares in the company, valued at approximately $4,004,363.81. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

COR has been the topic of a number of recent analyst reports. Credit Suisse Group set a $111.00 price target on shares of CoreSite Realty and gave the company a “hold” rating in a research report on Friday, October 27th. JPMorgan Chase & Co. initiated coverage on shares of CoreSite Realty in a research report on Monday, September 25th. They issued a “neutral” rating and a $118.00 price target on the stock. Citigroup lifted their price target on shares of CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 27th. William Blair initiated coverage on shares of CoreSite Realty in a research report on Friday, September 22nd. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research lowered shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. CoreSite Realty presently has an average rating of “Buy” and a consensus price target of $109.55.

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CoreSite Realty 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.

Dividend History for CoreSite Realty (NYSE:COR)

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