Credit Suisse Group Analysts Give CoreSite Realty Corporation (COR) a $111.00 Price Target

Credit Suisse Group set a $111.00 price objective on CoreSite Realty Corporation (NYSE:COR) in a research report report published on Friday, October 27th. The firm currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on the company. BidaskClub upgraded CoreSite Realty Corporation from a buy rating to a strong-buy rating in a research note on Friday, August 25th. Citigroup Inc. upped their target price on CoreSite Realty Corporation from $109.00 to $115.00 and gave the stock a buy rating in a research note on Friday, October 27th. Zacks Investment Research lowered CoreSite Realty Corporation from a buy rating to a hold rating in a research report on Tuesday, July 4th. KeyCorp reiterated a hold rating on shares of CoreSite Realty Corporation in a research report on Tuesday, September 12th. Finally, Royal Bank Of Canada reiterated a buy rating on shares of CoreSite Realty Corporation in a research report on Tuesday, July 18th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of C$107.20.

Shares of CoreSite Realty Corporation (NYSE:COR) traded down C$0.41 during midday trading on Friday, reaching C$115.98. The company’s stock had a trading volume of 271,300 shares, compared to its average volume of 430,217. The company has a market cap of $3,971.33, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.29. CoreSite Realty Corporation has a fifty-two week low of C$64.81 and a fifty-two week high of C$120.85.

CoreSite Realty Corporation (NYSE:COR) last announced its earnings results on Thursday, October 26th. The company reported C$0.46 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.10 by C($0.64). The business had revenue of C$123.07 million during the quarter, compared to the consensus estimate of C$121.27 million. CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. CoreSite Realty Corporation’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. sell-side analysts expect that CoreSite Realty Corporation will post 4.48 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, September 28th. This represents a $3.60 annualized dividend and a yield of 3.10%. CoreSite Realty Corporation’s payout ratio is 195.65%.

In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of C$109.39, for a total transaction of C$875,120.00. Following the transaction, the chief financial officer now directly owns 98,562 shares in the company, valued at approximately C$10,781,697.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Paul E. Szurek sold 3,805 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of C$117.48, for a total value of C$447,011.40. Following the transaction, the chief executive officer now owns 93,405 shares in the company, valued at C$10,973,219.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,805 shares of company stock worth $1,876,481. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of COR. UBS Asset Management Americas Inc. grew its position in CoreSite Realty Corporation by 17.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 21,647 shares of the company’s stock worth $1,949,000 after acquiring an additional 3,168 shares during the last quarter. Stifel Financial Corp lifted its holdings in CoreSite Realty Corporation by 5.3% in the 1st quarter. Stifel Financial Corp now owns 2,903 shares of the company’s stock worth $262,000 after buying an additional 145 shares during the period. OppenheimerFunds Inc. lifted its holdings in CoreSite Realty Corporation by 26.2% in the 1st quarter. OppenheimerFunds Inc. now owns 3,931 shares of the company’s stock worth $354,000 after buying an additional 817 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CoreSite Realty Corporation by 11.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,178 shares of the company’s stock worth $376,000 after buying an additional 435 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in CoreSite Realty Corporation by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 457,964 shares of the company’s stock worth $41,239,000 after buying an additional 23,454 shares during the period. Institutional investors and hedge funds own 99.13% of the company’s stock.

About CoreSite Realty Corporation

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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