CoreSite Realty Corporation (COR) Receives $96.67 Consensus Price Target from Analysts

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.

Analyst Recommendations for CoreSite Realty Corporation (NYSE:COR)

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