CoreSite Realty Corp (NYSE:COR) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $108.11.
A number of analysts have recently commented on COR shares. Credit Suisse Group set a $111.00 price target on CoreSite Realty and gave the company a “hold” rating in a research note on Friday, October 27th. J P Morgan Chase & Co started coverage on CoreSite Realty in a research note on Monday, September 25th. They set a “neutral” rating and a $118.00 price target on the stock. Citigroup lifted their price target on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. William Blair started coverage on CoreSite Realty in a research note on Friday, September 22nd. They set an “outperform” rating on the stock. Finally, Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd.
CoreSite Realty (NYSE:COR) traded down $1.48 during trading on Friday, reaching $111.60. The company’s stock had a trading volume of 213,000 shares, compared to its average volume of 423,378. CoreSite Realty has a 1 year low of $76.96 and a 1 year high of $120.85. The company has a market capitalization of $5,370.00, a PE ratio of 25.76, a PEG ratio of 1.48 and a beta of 0.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The firm had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. During the same period in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. research analysts forecast that CoreSite Realty will post 4.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.98 dividend. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, December 28th. CoreSite Realty’s payout ratio is currently 195.65%.
In other CoreSite Realty news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the transaction, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the transaction, the senior vice president now directly owns 36,613 shares in the company, valued at $4,004,363.81. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in shares of CoreSite Realty by 4.3% during the third quarter. Wells Fargo & Company MN now owns 1,702,550 shares of the real estate investment trust’s stock valued at $190,516,000 after acquiring an additional 70,274 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CoreSite Realty by 5.7% during the second quarter. JPMorgan Chase & Co. now owns 876,830 shares of the real estate investment trust’s stock valued at $90,778,000 after acquiring an additional 47,340 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of CoreSite Realty by 44.9% during the second quarter. Principal Financial Group Inc. now owns 536,724 shares of the real estate investment trust’s stock valued at $55,567,000 after acquiring an additional 166,193 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of CoreSite Realty by 53.3% during the second quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock valued at $52,529,000 after acquiring an additional 176,489 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CoreSite Realty by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 499,857 shares of the real estate investment trust’s stock valued at $55,932,000 after acquiring an additional 22,342 shares in the last quarter. 97.74% of the stock is currently owned by hedge funds and other institutional investors.
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CoreSite Realty 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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