UBS upgraded shares of CoreSite (NYSE:COR) from a market perform rating to an outperform rating in a report released on Monday, March 12th, The Fly reports.
Several other research firms have also recently weighed in on COR. Citigroup cut their price target on shares of CoreSite from $115.00 to $105.00 and set a neutral rating on the stock in a report on Friday, February 9th. Jefferies Group reiterated a buy rating on shares of CoreSite in a research note on Thursday, February 8th. KeyCorp upgraded shares of CoreSite from a sector weight rating to an overweight rating and boosted their target price for the company from $98.19 to $110.00 in a research note on Monday, March 12th. Mitsubishi UFJ Financial Group started coverage on shares of CoreSite in a research note on Wednesday, January 10th. They issued an overweight rating and a $124.00 target price on the stock. Finally, Robert W. Baird lowered their price target on shares of CoreSite from $129.00 to $126.00 and set an outperform rating on the stock in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $112.77.
Shares of NYSE COR traded down $2.01 during mid-day trading on Monday, reaching $102.29. 325,171 shares of the company’s stock traded hands, compared to its average volume of 417,483. The stock has a market capitalization of $3,526.36, a P/E ratio of 22.63, a P/E/G ratio of 1.21 and a beta of 0.39. CoreSite has a 1-year low of $89.76 and a 1-year high of $120.85. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.27 and a quick ratio of 0.27.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.92 dividend on an annualized basis and a yield of 3.83%. CoreSite’s dividend payout ratio is presently 86.73%.
In other CoreSite news, CEO Paul E. Szurek sold 2,610 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $101.91, for a total value of $265,985.10. Following the completion of the transaction, the chief executive officer now owns 89,560 shares of the company’s stock, valued at approximately $9,127,059.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Steven James Smith sold 492 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $102.42, for a total transaction of $50,390.64. Following the completion of the sale, the senior vice president now directly owns 36,101 shares of the company’s stock, valued at approximately $3,697,464.42. The disclosure for this sale can be found here. In the last three months, insiders acquired 198,000 shares of company stock valued at $64,780 and sold 39,510 shares valued at $3,822,268. 1.50% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of CoreSite by 41.2% in the 4th quarter. US Bancorp DE now owns 2,257 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 658 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of CoreSite in the 3rd quarter valued at $9,571,000. Copper Rock Capital Partners LLC boosted its stake in shares of CoreSite by 47.7% in the 4th quarter. Copper Rock Capital Partners LLC now owns 72,787 shares of the real estate investment trust’s stock valued at $8,315,000 after purchasing an additional 23,491 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of CoreSite by 4.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 66,444 shares of the real estate investment trust’s stock valued at $7,428,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in shares of CoreSite in the 3rd quarter valued at $630,000. 99.40% of the stock is owned by institutional investors.
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CoreSite 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.
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