CoreSite Realty Corporation (NYSE:COR) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $96.67.
Several equities analysts have recently issued reports on COR shares. Royal Bank Of Canada reissued a “buy” rating and issued a $110.00 price target on shares of CoreSite Realty Corporation in a report on Thursday, June 8th. Jefferies Group LLC reissued a “buy” rating and issued a $117.00 price target on shares of CoreSite Realty Corporation in a report on Wednesday, June 14th. BidaskClub lowered shares of CoreSite Realty Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a report on Wednesday, June 28th. Finally, Credit Suisse Group started coverage on shares of CoreSite Realty Corporation in a report on Friday, June 30th. They issued a “neutral” rating and a $103.00 price target for the company.
In other CoreSite Realty Corporation news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total transaction of $885,920.00. Following the sale, the chief financial officer now directly owns 110,493 shares of the company’s stock, valued at approximately $12,235,994.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Derek Mccandless sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 48,913 shares in the company, valued at $5,416,625.62. The disclosure for this sale can be found here. Insiders have sold a total of 21,805 shares of company stock worth $2,440,331 over the last three months. Insiders own 1.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of CoreSite Realty Corporation by 53.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,108 shares of the real estate investment trust’s stock valued at $1,357,000 after purchasing an additional 4,593 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of CoreSite Realty Corporation by 111.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 49,987 shares of the real estate investment trust’s stock valued at $5,175,000 after purchasing an additional 26,307 shares during the period. US Bancorp DE raised its holdings in shares of CoreSite Realty Corporation by 6.7% in the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 75 shares during the period. Jane Street Group LLC bought a new stake in shares of CoreSite Realty Corporation in the 1st quarter valued at about $233,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of CoreSite Realty Corporation in the 1st quarter valued at about $722,000. 98.47% of the stock is currently owned by institutional investors.
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Shares of CoreSite Realty Corporation (COR) traded down 0.29% during midday trading on Wednesday, hitting $110.59. The stock had a trading volume of 615,203 shares. CoreSite Realty Corporation has a 52 week low of $64.81 and a 52 week high of $120.85. The stock has a 50-day moving average of $112.61 and a 200 day moving average of $101.89. The stock has a market cap of $3.79 billion, a PE ratio of 63.63 and a beta of 0.56.
CoreSite Realty Corporation (NYSE:COR) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. The firm had revenue of $117.89 million during the quarter, compared to analyst estimates of $117.32 million. During the same quarter in the previous year, the business earned $0.89 EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. Analysts anticipate that CoreSite Realty Corporation will post $1.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.60 annualized dividend and a yield of 3.26%. CoreSite Realty Corporation’s dividend payout ratio (DPR) is presently 206.90%.
CoreSite Realty Corporation Company Profile
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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