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.
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