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CoreSite Realty

NYSE:COR
Snowflake Description

Average dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
COR
NYSE
$5B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 22 days ago. More info.


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COR Share Price and Events
7 Day Returns
2.1%
NYSE:COR
-0.9%
US REITs
-3.1%
US Market
1 Year Returns
-1.6%
NYSE:COR
7.6%
US REITs
-1.7%
US Market
COR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CoreSite Realty (COR) 2.1% -2% -2.9% -1.6% 38.9% 223.6%
US REITs -0.9% 0.6% 1.8% 7.6% 6.9% 22.8%
US Market -3.1% -5.3% -1.2% -1.7% 28.2% 35%
1 Year Return vs Industry and Market
  • COR underperformed the REITs industry which returned 7.6% over the past year.
  • COR matched the United States of America Market (-1.7%) over the past year.
Price Volatility
COR
Industry
5yr Volatility vs Market

Value

 Is CoreSite Realty undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CoreSite Realty to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CoreSite Realty.

NYSE:COR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:COR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.473 (1 + (1- 21%) (28.2%))
0.717
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NYSE:COR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

NYSE:COR Discount to Share Price
Calculation Result
Value per share (USD) From above. $153.80
Current discount Discount to share price of $113.58
= -1 x ($113.58 - $153.80) / $153.80
26.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CoreSite Realty is available for.
Intrinsic value
26%
Share price is $113.58 vs Future cash flow value of $153.8
Current Discount Checks
For CoreSite Realty to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CoreSite Realty's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CoreSite Realty's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CoreSite Realty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CoreSite Realty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:COR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $2.14
NYSE:COR Share Price ** NYSE (2019-08-16) in USD $113.58
United States of America REITs Industry PE Ratio Median Figure of 153 Publicly-Listed REITs Companies 32.88x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CoreSite Realty.

NYSE:COR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:COR Share Price ÷ EPS (both in USD)

= 113.58 ÷ 2.14

53.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CoreSite Realty is overvalued based on earnings compared to the US REITs industry average.
  • CoreSite Realty is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does CoreSite Realty's expected growth come at a high price?
Raw Data
NYSE:COR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 53.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
11.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 140 Publicly-Listed REITs Companies 1.86x
United States of America Market PEG Ratio Median Figure of 2,115 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

NYSE:COR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 53.05x ÷ 11.1%

4.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CoreSite Realty is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CoreSite Realty's assets?
Raw Data
NYSE:COR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $5.41
NYSE:COR Share Price * NYSE (2019-08-16) in USD $113.58
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.91x
United States of America Market PB Ratio Median Figure of 5,261 Publicly-Listed Companies 1.67x
NYSE:COR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:COR Share Price ÷ Book Value per Share (both in USD)

= 113.58 ÷ 5.41

20.98x

* Primary Listing of CoreSite Realty.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CoreSite Realty is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess CoreSite Realty's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. CoreSite Realty has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is CoreSite Realty expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CoreSite Realty expected to grow at an attractive rate?
  • CoreSite Realty's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • CoreSite Realty's earnings growth is positive but not above the United States of America market average.
  • CoreSite Realty's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:COR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:COR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 11.1%
NYSE:COR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 11.1%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:COR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:COR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 889 372 120 4
2022-12-31 808 341 105 4
2021-12-31 723 313 93 6
2020-12-31 640 294 83 16
2019-12-31 576 236 77 16
NYSE:COR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 560 250 77
2019-03-31 554 256 77
2018-12-31 544 259 78
2018-09-30 531 247 73
2018-06-30 515 228 70
2018-03-31 497 217 67
2017-12-31 482 209 63
2017-09-30 466 199 63
2017-06-30 445 201 59
2017-03-31 423 195 55
2016-12-31 400 171 50
2016-09-30 381 162 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CoreSite Realty's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • CoreSite Realty's revenue is expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:COR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from CoreSite Realty Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:COR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.57 2.94 2.36 3.00
2022-12-31 2.35 2.72 2.11 3.00
2021-12-31 2.57 3.45 1.83 6.00
2020-12-31 2.25 2.67 1.84 14.00
2019-12-31 2.09 2.15 2.02 14.00
NYSE:COR Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 2.14
2019-03-31 2.17
2018-12-31 2.23
2018-09-30 2.13
2018-06-30 2.07
2018-03-31 1.97
2017-12-31 1.85
2017-09-30 1.86
2017-06-30 1.76
2017-03-31 1.67
2016-12-31 1.56
2016-09-30 1.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • CoreSite Realty is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess CoreSite Realty's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CoreSite Realty has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has CoreSite Realty performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CoreSite Realty's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CoreSite Realty has delivered over 20% year on year earnings growth in the past 5 years.
  • CoreSite Realty's 1-year earnings growth is less than its 5-year average (10% vs 33.2%)
  • CoreSite Realty's earnings growth has not exceeded the US REITs industry average in the past year (10% vs 16.9%).
Earnings and Revenue History
CoreSite Realty's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CoreSite Realty Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:COR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 560.13 77.43 65.07
2019-03-31 553.67 77.28 62.67
2018-12-31 544.39 77.92 61.11
2018-09-30 531.19 73.20 59.96
2018-06-30 515.08 70.36 59.11
2018-03-31 496.52 66.62 57.36
2017-12-31 481.82 62.61 55.72
2017-09-30 466.38 62.59 53.66
2017-06-30 444.59 59.01 53.15
2017-03-31 422.79 55.40 52.55
2016-12-31 400.35 50.37 52.86
2016-09-30 380.76 44.82 51.59
2016-06-30 365.87 39.56 50.11
2016-03-31 351.12 33.06 49.00
2015-12-31 333.29 26.37 50.11
2015-09-30 314.87 21.69 45.95
2015-06-30 299.00 17.92 44.48
2015-03-31 283.34 16.26 42.75
2014-12-31 272.42 14.43 42.40
2014-09-30 261.37 12.90 43.29
2014-06-30 251.49 12.65 42.59
2014-03-31 243.47 11.39 42.22
2013-12-31 234.83 10.50 41.72
2013-09-30 228.65 9.23 41.38
2013-06-30 221.77 7.65 39.75
2013-03-31 214.74 5.86 38.25
2012-12-31 206.93 4.61 34.44
2012-09-30 197.71 2.93 31.72

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst CoreSite Realty has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • CoreSite Realty used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • CoreSite Realty has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CoreSite Realty's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CoreSite Realty has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is CoreSite Realty's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CoreSite Realty's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CoreSite Realty's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • CoreSite Realty's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of CoreSite Realty's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CoreSite Realty Company Filings, last reported 1 month ago.

NYSE:COR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 276.12 1,313.21 2.84
2019-03-31 306.17 1,219.12 2.29
2018-12-31 334.63 1,134.92 2.60
2018-09-30 363.63 1,073.48 5.31
2018-06-30 384.60 1,030.54 2.83
2018-03-31 403.33 986.97 3.08
2017-12-31 418.64 939.57 5.25
2017-09-30 552.23 788.79 4.68
2017-06-30 570.44 769.50 22.33
2017-03-31 588.67 719.76 2.39
2016-12-31 597.09 690.85 4.43
2016-09-30 609.16 593.99 6.30
2016-06-30 613.33 500.50 2.24
2016-03-31 619.02 462.23 3.20
2015-12-31 626.31 391.81 6.85
2015-09-30 632.10 362.95 9.48
2015-06-30 642.79 353.05 7.54
2015-03-31 649.60 335.05 12.06
2014-12-31 658.34 317.98 10.66
2014-09-30 666.34 305.25 9.27
2014-06-30 673.76 276.75 11.13
2014-03-31 680.69 260.00 10.15
2013-12-31 688.31 232.50 5.31
2013-09-30 695.70 166.63 0.70
2013-06-30 699.90 132.00 2.80
2013-03-31 704.50 111.38 8.49
2012-12-31 710.77 59.75 8.13
2012-09-30 606.33 154.37 13.42
  • CoreSite Realty's level of debt (475.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.1% vs 475.6% today).
  • Debt is not well covered by operating cash flow (19%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.7x coverage).
X
Financial health checks
We assess CoreSite Realty's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CoreSite Realty has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is CoreSite Realty's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.3%
Current annual income from CoreSite Realty dividends. Estimated to be 4.61% next year.
If you bought $2,000 of CoreSite Realty shares you are expected to receive $86 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CoreSite Realty's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.5%).
  • CoreSite Realty's dividend is above the markets top 25% of dividend payers in United States of America (3.9%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:COR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 183 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:COR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 6.40 5.00
2022-12-31 5.93 5.00
2021-12-31 5.47 7.00
2020-12-31 5.00 14.00
2019-12-31 4.68 14.00
NYSE:COR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-16 4.880 4.266
2019-03-07 4.400 4.057
2018-12-06 4.400 4.615
2018-08-31 4.120 4.010
2018-05-24 4.120 3.692
2018-03-09 3.920 3.787
2017-12-07 3.920 3.738
2017-09-01 3.600 3.174
2017-05-30 3.600 3.338
2017-03-09 3.200 3.412
2016-12-01 3.200 3.873
2016-09-02 2.120 2.874
2016-05-20 2.120 2.587
2016-03-03 2.120 2.988
2015-12-02 2.120 3.569
2015-08-31 1.680 3.103
2015-05-21 1.680 3.508
2015-03-12 1.680 3.458
2014-12-08 1.680 3.903
2014-08-29 1.400 3.930
2014-05-30 1.400 4.161
2014-03-06 1.400 4.537
2013-12-06 1.400 4.496
2013-08-30 1.080 3.330
2013-05-24 1.080 3.328
2013-03-05 1.080 3.048
2012-11-26 1.080 3.748
2012-09-10 0.720 2.883
2012-06-18 0.720 2.717
2012-03-14 0.720 2.990
2011-12-08 0.720 3.637
2011-09-19 0.520 3.366
2011-06-17 0.520 3.208
2011-03-15 0.520 3.251
2010-12-20 0.520 3.600

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, CoreSite Realty has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but CoreSite Realty only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of CoreSite Realty's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (55.2x coverage).
X
Income/ dividend checks
We assess CoreSite Realty's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CoreSite Realty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CoreSite Realty has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of CoreSite Realty's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Szurek
COMPENSATION $5,707,523
AGE 58
TENURE AS CEO 2.9 years
CEO Bio

Mr. Paul E. Szurek has been Chief Executive Officer and President of CoreSite Realty Corporation since September 10, 2016. Mr. Szurek served as the Chief Financial Officer of Biltmore Farms, LLC since 2003. Mr. Szurek served as a Director of Charlotte Branch of Federal Reserve Bank of Richmond since 2013 until January 1, 2017. He served as Senior Vice President of Security Capital from June 1993 to January 1996 and served as its Vice President from April 1991 to June 1993. He was an Attorney in the law firm of Kemp, Smith, Duncan & Hammond in El Paso, Texas, where he practiced securities and mergers and acquisitions law. He served as the Chief Financial Officer for Security Capital Group Incorporated from July 1997 to 2002. Prior to joining Biltmore Farms in 2003, he served as the Managing Director of SCGroup of Security Capital-U.S. Realty since July 1997. He served as the Managing Director of SC-U.S. Realty and EU Management from January 1996 to June 1997, where he was responsible for operations, corporate finance and mergers and acquisitions. He has significant experience concerning the acquisition, disposition, financing, operations and market opportunities of private and publicly traded REITs. He served as Secretary of Archstone-Smith Trust until November 5, 1998. He has been a Director at Four Corners Property Trust, Inc. since 2015. He has been a Director of CoreSite Realty Corporation and served as its Lead Independent Director since September 2010 until September 2016. He has been a Trustee of The Asheville School since 2004. He served as a Director to two publicly-traded real estate companies, Regency Centers and Security Capital U.S. Realty. He has been Finance Committee Member for Mission Hospitals, Inc. since 2004. Mr. Szurek received a J.D. with honors from Harvard Law School and a B.A. in Government, magna cum laude from the University of Texas at Austin.

CEO Compensation
  • Paul's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Paul's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the CoreSite Realty management team in years:

2.9
Average Tenure
49.5
Average Age
  • The tenure for the CoreSite Realty management team is about average.
Management Team

Paul Szurek

TITLE
President
COMPENSATION
$6M
AGE
58
TENURE
2.9 yrs

Jeff Finnin

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
56
TENURE
8.6 yrs

Derek McCandless

TITLE
Senior VP of Legal
COMPENSATION
$1M
AGE
48
TENURE
8.4 yrs

Steve Smith

TITLE
Chief Revenue Officer
COMPENSATION
$2M
AGE
54
TENURE
5.6 yrs

Brian Warren

TITLE
Senior Vice President of Engineering & Product
COMPENSATION
$1M
AGE
49
TENURE
5.4 yrs

Mark Jones

TITLE
Chief Accounting Officer
AGE
43
TENURE
1.4 yrs

Carole Jorgensen

TITLE
Vice President of Investor Relations and Corporate Communications
TENURE
1.6 yrs

Greer Aviv

TITLE
Vice President of Investor Relations & Corporate Communications

Maile Kaiser

TITLE
Senior Vice President of Sales
AGE
45
TENURE
1.1 yrs

Juan Font

TITLE
Senior Vice President of General Management
AGE
50
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the CoreSite Realty board of directors in years:

8.9
Average Tenure
57.5
Average Age
  • The tenure for the CoreSite Realty board of directors is about average.
Board of Directors

Rob Stuckey

TITLE
Chairman of the Board
AGE
57
TENURE
9.6 yrs

Paul Szurek

TITLE
President
COMPENSATION
$6M
AGE
58
TENURE
8.9 yrs

John Thompson

TITLE
Director
COMPENSATION
$230K
AGE
52
TENURE
8.9 yrs

Michael Koehler

TITLE
Director
COMPENSATION
$230K
AGE
52
TENURE
8.9 yrs

Jean Bua

TITLE
Director
COMPENSATION
$220K
AGE
60
TENURE
2.3 yrs

David Wilson

TITLE
Lead Independent Director
COMPENSATION
$230K
AGE
77
TENURE
2.9 yrs

Jim Attwood

TITLE
Director
AGE
61
TENURE
8.9 yrs

Kelly Chambliss

TITLE
Director
COMPENSATION
$220K
AGE
48
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • CoreSite Realty individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
28. May 19 Sell Mark Jones Individual 23. May 19 23. May 19 -500 $119.15 $-59,575
X
Management checks
We assess CoreSite Realty's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CoreSite Realty has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Have Insiders Been Selling CoreSite Realty Corporation (NYSE:COR) Shares This Year?

So we'll take a look at whether insiders have been buying or selling shares in CoreSite Realty Corporation (NYSE:COR). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' See our latest analysis for CoreSite Realty The Last 12 Months Of Insider Transactions At CoreSite Realty The Senior Vice President of Engineering &amp; Product, Brian Warren, made the biggest insider sale in the last 12 months. … NYSE:COR Recent Insider Trading, August 5th 2019 CoreSite Realty Insiders Are Selling The Stock The last quarter saw substantial insider selling of CoreSite Realty shares.

Simply Wall St -

How Should Investors Feel About CoreSite Realty Corporation's (NYSE:COR) CEO Pay?

Paul Szurek has been the CEO of CoreSite Realty Corporation (NYSE:COR) since 2016. … Check out our latest analysis for CoreSite Realty How Does Paul Szurek's Compensation Compare With Similar Sized Companies? … Our data indicates that CoreSite Realty Corporation is worth US$5.5b, and total annual CEO compensation is US$5.7m.

Simply Wall St -

Announcing: CoreSite Realty (NYSE:COR) Stock Increased An Energizing 265% In The Last Five Years

There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, CoreSite Realty managed to grow its earnings per share at 32% a year. … So the EPS growth rate is rather close to the annualized share price gain of 30% per year.

Simply Wall St -

Should You Invest In CoreSite Realty Corporation (NYSE:COR)?

This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks. … Take a look at our free research report of analyst consensus for COR’s outlook.

Simply Wall St -

Here's Why We Think CoreSite Realty (NYSE:COR) Is Well Worth Watching

View our latest analysis for CoreSite Realty How Quickly Is CoreSite Realty Increasing Earnings Per Share? … I note that CoreSite Realty's revenue from operations was lower than its revenue in the last twelve months, so that could distort my analysis of its margins. … Given my belief that share price follows earnings per share you can easily imagine how I feel about CoreSite Realty's strong EPS growth.

Simply Wall St -

What Are Analysts Saying About CoreSite Realty Corporation's (NYSE:COR) Growth?

Based on CoreSite Realty Corporation's (NYSE:COR) earnings update in March 2019, analyst forecasts seem fairly subdued, with profits predicted to rise by 8.6% next year relative to the higher past 5-year average growth rate of 36%. … View our latest analysis for CoreSite Realty Can we expect CoreSite Realty to keep growing? … NYSE:COR Past and Future Earnings, June 3rd 2019 From the current net income level of US$78m and the final forecast of US$97m by 2022, the annual rate of growth for COR’s earnings is 7.4%.

Simply Wall St -

Should CoreSite Realty Corporation (NYSE:COR) Be Part Of Your Dividend Portfolio?

CoreSite Realty is carrying net debt of 4.98 times its EBITDA, which is getting towards the upper limit of our comfort range on a dividend stock that the investor hopes will endure a wide range of economic circumstances. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see CoreSite Realty has grown its earnings per share at 34% per annum over the past five years. CoreSite Realty earnings have been growing very quickly recently, but given that it is paying out more than half of its earnings, we wonder if it will have enough capital to fund further growth in the future. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … CoreSite Realty's is paying out more than half its income as dividends, but at least the dividend is covered both by reported earnings and cashflow.

Simply Wall St -

Should You Be Excited About CoreSite Realty Corporation's (NYSE:COR) 34% Return On Equity?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of CoreSite Realty Corporation (NYSE:COR). … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.34 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Did CoreSite Realty Corporation (NYSE:COR) Insiders Sell Shares?

So before you buy or sell CoreSite Realty Corporation (NYSE:COR), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At CoreSite Realty.

Simply Wall St -

If You Had Bought CoreSite Realty (NYSE:COR) Stock Five Years Ago, You Could Pocket A 254% Gain Today

But on a lighter note, a good company can see its share price rise well over 100%. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, CoreSite Realty managed to grow its earnings per share at 35% a year.

Simply Wall St -

Company Info

Description

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. Our scalable, flexible solutions and 450+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships.

Details
Name: CoreSite Realty Corporation
COR
Exchange: NYSE
Founded: 2010
$5,347,446,259
$4,190,063,197
48,463,352
Website: http://www.CoreSite.com
Address: CoreSite Realty Corporation
1001 17th Street,
Suite 500,
Denver,
Colorado, 80202,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE COR Common Shares New York Stock Exchange US USD 23. Sep 2010
DB 07H Common Shares Deutsche Boerse AG DE EUR 23. Sep 2010
LSE 0I3T Common Shares London Stock Exchange GB USD 23. Sep 2010
Number of employees
Current staff
Staff numbers
454
CoreSite Realty employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/17 00:19
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/08/07
Last earnings filing: 2019/07/26
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.