CoreSite Realty (COR) Given New $107.00 Price Target at Credit Suisse Group

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.

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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