Raymond James Financial Inc. initiated coverage on shares of CoreSite Realty Corp. (NYSE:COR) in a note issued to investors on Friday. The firm set a “market perform” rating on the real estate investment trust’s stock.
Several other research analysts have also weighed in on the company. Stifel Nicolaus lowered CoreSite Realty Corp. from a “hold” rating to a “sell” rating and set a $79.00 price objective for the company. in a research report on Monday, July 11th. Jefferies Group reissued a “buy” rating on shares of CoreSite Realty Corp. in a research report on Tuesday, September 13th. Citigroup Inc. lifted their price objective on CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Zacks Investment Research lowered CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, SunTrust Banks Inc. initiated coverage on CoreSite Realty Corp. in a research report on Thursday, July 21st. They issued a “buy” rating and a $100.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $77.06.
Shares of CoreSite Realty Corp. (NYSE:COR) opened at 73.51 on Friday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 55.02 and a beta of 0.82. The company’s 50-day moving average price is $77.05 and its 200 day moving average price is $78.53. CoreSite Realty Corp. has a 12-month low of $53.97 and a 12-month high of $91.91.
CoreSite Realty Corp. (NYSE:COR) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. The firm earned $96.10 million during the quarter, compared to analyst estimates of $96.09 million. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts predict that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.12 annualized dividend and a dividend yield of 2.88%. CoreSite Realty Corp.’s dividend payout ratio is presently 160.61%.
In other CoreSite Realty Corp. news, insider Thomas M. Ray sold 21,179 shares of CoreSite Realty Corp. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $81.57, for a total transaction of $1,727,571.03. Following the completion of the transaction, the insider now owns 391,186 shares in the company, valued at approximately $31,909,042.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul E. Szurek purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $81.20 per share, with a total value of $81,200.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $487,200. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in COR. Copper Rock Capital Partners LLC bought a new position in CoreSite Realty Corp. during the third quarter worth about $297,000. Macquarie Group Ltd. bought a new position in CoreSite Realty Corp. during the second quarter worth about $15,506,000. Mason Street Advisors LLC bought a new position in CoreSite Realty Corp. during the second quarter worth about $529,000. Royal Bank of Canada increased its position in CoreSite Realty Corp. by 31.4% in the second quarter. Royal Bank of Canada now owns 137,498 shares of the real estate investment trust’s stock worth $12,194,000 after buying an additional 32,820 shares during the period. Finally, Howe & Rusling Inc. bought a new position in CoreSite Realty Corp. during the second quarter worth about $114,000. Institutional investors and hedge funds own 95.19% of the company’s stock.
CoreSite Realty Corp. Company Profile
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company 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 (including Washington DC), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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