Several other research analysts have also recently issued reports on COR. BidaskClub cut CoreSite Realty Corporation from a buy rating to a hold rating in a research report on Thursday, August 10th. Credit Suisse Group began coverage on CoreSite Realty Corporation in a research report on Friday, June 30th. They issued a neutral rating and a $103.00 price target for the company. Zacks Investment Research upgraded CoreSite Realty Corporation from a sell rating to a hold rating and set a $124.00 price target for the company in a research report on Monday, July 31st. Macquarie restated a hold rating and issued a $84.00 price target on shares of CoreSite Realty Corporation in a research report on Tuesday, July 4th. Finally, Wells Fargo & Company began coverage on CoreSite Realty Corporation in a research report on Wednesday, May 17th. They issued a market perform rating and a $94.00 price target for the company. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $98.00.
Shares of CoreSite Realty Corporation (NYSE:COR) traded down 1.69% during mid-day trading on Tuesday, reaching $108.49. 469,582 shares of the company’s stock were exchanged. CoreSite Realty Corporation has a one year low of $64.81 and a one year high of $120.85. The stock has a market cap of $3.71 billion, a PE ratio of 62.42 and a beta of 0.56. The company has a 50 day moving average price of $112.86 and a 200-day moving average price of $102.39.
CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The firm had revenue of $117.89 million during the quarter, compared to analysts’ expectations of $117.32 million. CoreSite Realty Corporation had a return on equity of 14.14% and a net margin of 15.15%. CoreSite Realty Corporation’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, analysts predict that CoreSite Realty Corporation will post $1.83 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, September 28th. CoreSite Realty Corporation’s payout ratio is currently 206.90%.
In related news, SVP Derek Mccandless sold 10,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total transaction of $1,107,400.00. Following the sale, the senior vice president now owns 48,913 shares of the company’s stock, valued at $5,416,625.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul E. Szurek sold 3,805 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total value of $447,011.40. Following the completion of the sale, the chief executive officer now directly owns 93,405 shares in the company, valued at $10,973,219.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,805 shares of company stock worth $2,440,331. Corporate insiders own 1.50% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Lord Abbett & CO. LLC boosted its stake in CoreSite Realty Corporation by 37.1% in the 2nd quarter. Lord Abbett & CO. LLC now owns 172,000 shares of the real estate investment trust’s stock worth $17,807,000 after buying an additional 46,575 shares during the last quarter. Phocas Financial Corp. boosted its stake in CoreSite Realty Corporation by 4.6% in the 2nd quarter. Phocas Financial Corp. now owns 185,448 shares of the real estate investment trust’s stock worth $19,199,000 after buying an additional 8,190 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in CoreSite Realty Corporation in the 2nd quarter worth about $237,000. Piedmont Investment Advisors LLC acquired a new stake in CoreSite Realty Corporation in the 2nd quarter worth about $765,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in CoreSite Realty Corporation by 27.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,247 shares of the real estate investment trust’s stock worth $1,061,000 after buying an additional 2,226 shares during the last quarter. 98.32% of the stock is currently owned by hedge funds and other institutional investors.
About CoreSite Realty Corporation
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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