Mitsubishi UFJ Financial Group assumed coverage on shares of CoreSite Realty (NYSE:COR) in a research note issued to investors on Wednesday, January 10th. The firm issued an overweight rating and a $124.00 target price on the real estate investment trust’s stock.
A number of other analysts also recently issued reports on the company. Citigroup lifted their price target on CoreSite Realty from $109.00 to $115.00 and gave the stock a buy rating in a report on Friday, October 27th. Credit Suisse Group set a $111.00 price target on CoreSite Realty and gave the stock a hold rating in a report on Friday, October 27th. KeyCorp reaffirmed a hold rating on shares of CoreSite Realty in a report on Tuesday, September 12th. Zacks Investment Research downgraded CoreSite Realty from a buy rating to a hold rating in a report on Thursday, November 2nd. Finally, SunTrust Banks reaffirmed a buy rating and set a $133.00 price target on shares of CoreSite Realty in a report on Thursday, December 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $110.75.
CoreSite Realty (NYSE:COR) opened at $107.30 on Wednesday. The stock has a market capitalization of $3,618.30, a price-to-earnings ratio of 58.32, a P/E/G ratio of 1.23 and a beta of 0.44. CoreSite Realty has a fifty-two week low of $83.42 and a fifty-two week high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80.
CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). The company had revenue of $123.07 million during the quarter, compared to analysts’ expectations of $121.27 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. research analysts anticipate that CoreSite Realty will post 4.48 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.98 dividend. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, December 28th. CoreSite Realty’s payout ratio is presently 213.04%.
In other news, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the sale, the senior vice president now directly owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven James Smith sold 7,121 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $112.73, for a total value of $802,750.33. Following the completion of the sale, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at $5,426,484.01. The disclosure for this sale can be found here. Insiders sold a total of 20,121 shares of company stock valued at $2,224,720 over the last three months. Company insiders own 1.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Zions Bancorporation acquired a new position in CoreSite Realty in the 3rd quarter valued at about $170,000. Schroder Investment Management Group acquired a new position in CoreSite Realty in the 2nd quarter valued at about $188,000. Park Avenue Securities LLC acquired a new position in CoreSite Realty in the 3rd quarter valued at about $207,000. Jaffetilchin Investment Partners LLC acquired a new position in CoreSite Realty in the 4th quarter valued at about $208,000. Finally, FDx Advisors Inc. acquired a new position in CoreSite Realty in the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
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About CoreSite Realty
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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