CoreSite Realty (NYSE:COR) had its price target cut by Credit Suisse Group from $111.00 to $107.00 in a research report sent to investors on Friday. They currently have a neutral rating on the real estate investment trust’s stock.
A number of other brokerages also recently issued reports on COR. ValuEngine upgraded CoreSite Realty from a hold rating to a buy rating in a research report on Thursday, November 9th. SunTrust Banks restated a buy rating and set a $121.00 price objective on shares of CoreSite Realty in a research report on Friday, November 17th. Cowen restated a buy rating and set a $111.00 price objective on shares of CoreSite Realty in a research report on Thursday, October 19th. KeyCorp restated a hold rating on shares of CoreSite Realty in a research report on Thursday, October 12th. Finally, Mitsubishi UFJ Financial Group assumed coverage on CoreSite Realty in a research report on Wednesday, January 10th. They set an overweight rating and a $124.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $113.00.
Shares of CoreSite Realty (NYSE COR) opened at $97.40 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.27 and a quick ratio of 0.29. The company has a market capitalization of $4,680.00, a PE ratio of 52.93, a P/E/G ratio of 1.15 and a beta of 0.33. CoreSite Realty has a 52-week low of $83.82 and a 52-week high of $120.85.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. CoreSite Realty had a return on equity of 16.77% and a net margin of 15.54%. The business had revenue of $125.95 million for the quarter, compared to the consensus estimate of $125.71 million. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. analysts anticipate that CoreSite Realty will post 5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 4.02%. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, December 28th. CoreSite Realty’s dividend payout ratio is presently 213.04%.
In other news, SVP Steven James Smith sold 3,151 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $106.52, for a total value of $335,644.52. Following the sale, the senior vice president now directly owns 42,915 shares in the company, valued at $4,571,305.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders bought 150,000 shares of company stock worth $55,000 and sold 12,533 shares worth $1,379,689. Corporate insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation purchased a new stake in shares of CoreSite Realty in the third quarter worth approximately $170,000. Intrust Bank NA purchased a new stake in shares of CoreSite Realty in the fourth quarter worth approximately $200,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of CoreSite Realty in the fourth quarter worth approximately $208,000. Park Avenue Securities LLC purchased a new stake in shares of CoreSite Realty in the third quarter worth approximately $207,000. Finally, FDx Advisors Inc. purchased a new stake in shares of CoreSite Realty in the third quarter worth approximately $209,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.
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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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