CoreSite Realty Corp. (NYSE:COR) announced a quarterly dividend on Friday, September 2nd. Shareholders of record on Friday, September 30th will be given a dividend of 0.53 per share by the real estate investment trust on Monday, October 17th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Wednesday, September 28th.
Shares of CoreSite Realty Corp. (NYSE:COR) opened at 77.42 on Tuesday. CoreSite Realty Corp. has a 1-year low of $49.80 and a 1-year high of $91.91. The firm’s 50 day moving average is $78.84 and its 200-day moving average is $78.03. The company has a market cap of $2.48 billion, a PE ratio of 57.95 and a beta of 0.88.
CoreSite Realty Corp. (NYSE:COR) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. CoreSite Realty Corp. had a net margin of 12.52% and a return on equity of 9.02%. The firm earned $96.10 million during the quarter, compared to the consensus estimate of $96.09 million. During the same period in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Equities analysts expect that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
Several research analysts recently commented on COR shares. Jefferies Group reaffirmed a “buy” rating on shares of CoreSite Realty Corp. in a report on Tuesday, September 13th. SunTrust Banks Inc. started coverage on shares of CoreSite Realty Corp. in a report on Thursday, July 21st. They issued a “buy” rating and a $100.00 price objective for the company. Zacks Investment Research downgraded shares of CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Canaccord Genuity started coverage on shares of CoreSite Realty Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $92.00 price objective for the company. Finally, Citigroup Inc. raised their price objective on shares of CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. CoreSite Realty Corp. presently has an average rating of “Hold” and an average price target of $77.06.
In other news, SVP Dominic M. Tobin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $81.65, for a total transaction of $816,500.00. Following the sale, the senior vice president now owns 41,385 shares in the company, valued at approximately $3,379,085.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $82.61, for a total transaction of $660,880.00. Following the sale, the chief financial officer now owns 117,644 shares in the company, valued at approximately $9,718,570.84. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. WBI Investments Inc. bought a new stake in CoreSite Realty Corp. during the second quarter valued at $5,103,000. TIAA CREF Investment Management LLC boosted its stake in CoreSite Realty Corp. by 42.0% in the second quarter. TIAA CREF Investment Management LLC now owns 191,140 shares of the real estate investment trust’s stock valued at $16,952,000 after buying an additional 56,570 shares during the period. Credit Suisse AG boosted its stake in CoreSite Realty Corp. by 530.7% in the second quarter. Credit Suisse AG now owns 185,139 shares of the real estate investment trust’s stock valued at $16,419,000 after buying an additional 155,783 shares during the period. American International Group Inc. boosted its stake in CoreSite Realty Corp. by 0.3% in the second quarter. American International Group Inc. now owns 24,447 shares of the real estate investment trust’s stock valued at $2,168,000 after buying an additional 84 shares during the period. Finally, Sei Investments Co. boosted its stake in CoreSite Realty Corp. by 60.7% in the second quarter. Sei Investments Co. now owns 5,713 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 2,159 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.
About CoreSite Realty Corp.
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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