CoreSite Realty (COR) Now Covered by Analysts at Mitsubishi UFJ Financial Group

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.

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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