NYSE:COR

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Average dividend payer with acceptable track record.


Similar Companies

Share Price & News

How has CoreSite Realty's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.8%

NYSE:COR

1.6%

US REITs

2.9%

US Market


1 Year Return

-1.2%

NYSE:COR

9.9%

US REITs

0.2%

US Market

COR underperformed the REITs industry which returned 9.1% over the past year.

COR matched the United States of America Market (-0.7%) over the past year.


Share holder returns

CORIndustryMarket
7 Day2.8%1.6%2.9%
30 Day-1.7%3.8%-2.3%
90 Day-4.1%3.3%3.1%
1 Year3.2%-1.2%14.9%9.9%2.4%0.2%
3 Year63.2%45.6%25.0%8.7%41.7%32.4%
5 Year293.4%226.9%59.2%25.3%55.1%37.9%

Price Volatility Vs. Market

How volatile is CoreSite Realty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

26%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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 Based on Earnings

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

CoreSite Realty is poor value based on expected growth next year.


Price Based on Value of Assets

CoreSite Realty is overvalued based on assets compared to the US REITs industry average.


Next Steps

Future Growth

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

11.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

CoreSite Realty's revenue is expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).

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 growth is expected to exceed the United States of America market average.

CoreSite Realty's earnings growth is positive but not above the United States of America market average.

CoreSite Realty's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

CoreSite Realty is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).


Next Steps

Past Performance

How has CoreSite Realty performed over the past 5 years?

33.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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%).


Return on Equity

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.


Return on Assets

CoreSite Realty used its assets more efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

CoreSite Realty has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is CoreSite Realty's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

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).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.1x debt.


Next Steps

Dividend

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

4.63%

Expected Dividend Yield


Dividend Yield and Payments Analysis

CoreSite Realty's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

CoreSite Realty's dividend is above the markets top 25% of dividend payers in United States of America (3.85%).

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

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).


Next Steps

Management

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

2.9yrs

Average management tenure


CEO

Paul Szurek (58yo)

2.9yrs

Tenure

US$5,707,523

Compensation

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 ...


CEO Compensation Analysis

Paul's remuneration is about average for companies of similar size in United States of America.

Paul's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.


Management Age and Tenure

2.9yrs

Average Tenure

49.5yo

Average Age

The tenure for the CoreSite Realty management team is about average.


Board Age and Tenure

8.9yrs

Average Tenure

57.5yo

Average Age

The tenure for the CoreSite Realty board of directors is about average.


Insider Trading

CoreSite Realty individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$59,57528 May 19
Mark Jones
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer
Shares500
Max PriceUS$119.15

Ownership Breakdown


Management Team

  • Paul Szurek (58yo)

    President

    • Tenure: 2.9yrs
    • Compensation: US$5.71m
  • Jeff Finnin (56yo)

    Chief Financial Officer

    • Tenure: 8.6yrs
    • Compensation: US$1.76m
  • Greer Aviv

    Vice President of Investor Relations & Corporate Communications

    • Tenure: 0.0yrs
  • Derek McCandless (48yo)

    Senior VP of Legal

    • Tenure: 8.4yrs
    • Compensation: US$1.27m
  • Steve Smith (54yo)

    Chief Revenue Officer

    • Tenure: 5.6yrs
    • Compensation: US$1.79m
  • Brian Warren (49yo)

    Senior Vice President of Engineering & Product

    • Tenure: 5.4yrs
    • Compensation: US$1.04m
  • Mark Jones (43yo)

    Chief Accounting Officer

    • Tenure: 1.4yrs
  • Juan Font (50yo)

    Senior Vice President of General Management

    • Tenure: 1.4yrs
  • Maile Kaiser (45yo)

    Senior Vice President of Sales

    • Tenure: 1.1yrs
  • Carole Jorgensen

    Vice President of Investor Relations and Corporate Communications

    • Tenure: 1.6yrs

Board Members

  • Rob Stuckey (57yo)

    Chairman of the Board

    • Tenure: 9.6yrs
  • Paul Szurek (58yo)

    President

    • Tenure: 2.9yrs
    • Compensation: US$5.71m
  • Michael Koehler (52yo)

    Director

    • Tenure: 8.9yrs
    • Compensation: US$230.02k
  • Jim Attwood (61yo)

    Director

    • Tenure: 8.9yrs
  • David Wilson (77yo)

    Lead Independent Director

    • Tenure: 2.9yrs
    • Compensation: US$230.02k
  • Jean Bua (60yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: US$220.02k
  • John Thompson (52yo)

    Director

    • Tenure: 8.9yrs
    • Compensation: US$230.02k
  • Kelly Chambliss (48yo)

    Director

    • Tenure: 2.9yrs
    • Compensation: US$220.02k

Company Information

CoreSite Realty Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CoreSite Realty Corporation
  • Ticker: COR
  • Exchange: NYSE
  • Founded: 2010
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Implied Market Cap: US$5.477b
  • Market Cap: US$4.186b
  • Shares outstanding: 48.46m
  • Website: https://www.CoreSite.com

Number of Employees


Location

  • CoreSite Realty Corporation
  • 1001 17th Street
  • Suite 500
  • Denver
  • Colorado
  • 80202
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CORNYSE (New York Stock Exchange)YesCommon SharesUSUSDSep 2010
07HDB (Deutsche Boerse AG)YesCommon SharesDEEURSep 2010
0I3TLSE (London Stock Exchange)YesCommon SharesGBUSDSep 2010

Biography

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 th ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/22 00:17
End of Day Share Price2019/08/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.