Several other brokerages also recently commented on COR. Stifel Nicolaus downgraded CoreSite Realty Corp. from a hold rating to a sell rating and set a $79.00 target price on the stock. in a report on Monday, July 11th. Jefferies Group reaffirmed a buy rating on shares of CoreSite Realty Corp. in a report on Tuesday, September 13th. Citigroup Inc. lifted their target price on CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a neutral rating in a report on Thursday, July 7th. Raymond James Financial Inc. assumed coverage on CoreSite Realty Corp. in a report on Friday, October 7th. They set a market perform rating on the stock. Finally, Zacks Investment Research downgraded CoreSite Realty Corp. from a buy rating to a hold rating in a report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $77.06.
CoreSite Realty Corp. (NYSE:COR) traded up 2.07% on Tuesday, hitting $75.49. The company had a trading volume of 100,583 shares. CoreSite Realty Corp. has a one year low of $53.97 and a one year high of $91.91. The stock’s 50-day moving average price is $76.87 and its 200 day moving average price is $78.49. The company has a market capitalization of $2.42 billion, a P/E ratio of 56.50 and a beta of 0.81.
CoreSite Realty Corp. (NYSE:COR) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.09 million. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. CoreSite Realty Corp.’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. On average, analysts expect that CoreSite Realty Corp. will post $3.61 EPS for the current fiscal year.
The firm also recently disclosed 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Wednesday, September 28th. CoreSite Realty Corp.’s dividend payout ratio is 160.61%.
In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.61, for a total transaction of $660,880.00. Following the transaction, the chief financial officer now directly owns 117,644 shares of the company’s stock, valued at approximately $9,718,570.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas M. Ray sold 21,179 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $81.57, for a total value of $1,727,571.03. Following the transaction, the insider now directly owns 391,186 shares in the company, valued at $31,909,042.02. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in CoreSite Realty Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 5,163,842 shares of the real estate investment trust’s stock worth $457,981,000 after buying an additional 210,238 shares during the period. BlackRock Fund Advisors increased its position in CoreSite Realty Corp. by 15.6% in the second quarter. BlackRock Fund Advisors now owns 1,998,311 shares of the real estate investment trust’s stock worth $177,230,000 after buying an additional 269,151 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in CoreSite Realty Corp. by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 915,763 shares of the real estate investment trust’s stock worth $81,219,000 after buying an additional 41,662 shares during the period. Lord Abbett & CO. LLC increased its position in CoreSite Realty Corp. by 9.4% in the second quarter. Lord Abbett & CO. LLC now owns 844,683 shares of the real estate investment trust’s stock worth $74,915,000 after buying an additional 72,380 shares during the period. Finally, Capital Growth Management LP purchased a new position in CoreSite Realty Corp. during the first quarter worth $51,457,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.
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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