CoreSite Realty Corp. (NYSE:COR) was upgraded by research analysts at Stifel Nicolaus from a “sell” rating to a “hold” rating in a report released on Monday. The firm currently has a $75.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 0.79% from the stock’s previous close.
COR has been the topic of a number of other research reports. Jefferies Group reissued a “buy” rating on shares of CoreSite Realty Corp. in a report on Tuesday, September 13th. SunTrust Banks Inc. began coverage on shares of CoreSite Realty Corp. in a report on Thursday, July 21st. They set a “buy” rating and a $100.00 target price on the stock. Canaccord Genuity began coverage on shares of CoreSite Realty Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $92.00 target price on the stock. Zacks Investment Research cut shares of CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Finally, Citigroup Inc. boosted their target price on shares of CoreSite Realty Corp. from $75.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $77.06.
Shares of CoreSite Realty Corp. (NYSE:COR) opened at 74.41 on Monday. The firm has a 50 day moving average price of $78.07 and a 200-day moving average price of $78.40. The firm has a market cap of $2.38 billion, a P/E ratio of 55.70 and a beta of 0.81. CoreSite Realty Corp. has a one year low of $53.62 and a one year high of $91.91.
CoreSite Realty Corp. (NYSE:COR) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.09 million. CoreSite Realty Corp. had a net margin of 12.52% and a return on equity of 9.02%. CoreSite Realty Corp.’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Analysts forecast that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.53 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.12 annualized dividend and a yield of 2.85%. CoreSite Realty Corp.’s dividend payout ratio (DPR) is presently 160.61%.
In other CoreSite Realty Corp. news, SVP Derek Mccandless sold 10,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $82.37, for a total value of $823,700.00. Following the completion of the sale, the senior vice president now directly owns 76,066 shares of the company’s stock, valued at $6,265,556.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul E. Szurek purchased 1,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was acquired at an average cost of $81.20 per share, with a total value of $81,200.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at $487,200. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. M&T Bank Corp increased its stake in CoreSite Realty Corp. by 1.3% in the first quarter. M&T Bank Corp now owns 5,487 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 72 shares in the last quarter. Palisade Capital Management LLC NJ increased its stake in CoreSite Realty Corp. by 10.5% in the first quarter. Palisade Capital Management LLC NJ now owns 234,963 shares of the real estate investment trust’s stock valued at $16,450,000 after buying an additional 22,384 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in CoreSite Realty Corp. during the first quarter valued at $1,004,000. Acrospire Investment Management LLC acquired a new stake in CoreSite Realty Corp. during the first quarter valued at $210,000. Finally, BlackRock Japan Co. Ltd increased its stake in CoreSite Realty Corp. by 18.0% in the first quarter. BlackRock Japan Co. Ltd now owns 2,270 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 346 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.
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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