TheStreet Downgrades CoreSite Realty (COR) to C+

TheStreet downgraded shares of CoreSite Realty (NYSE:COR) from a b- rating to a c+ rating in a report issued on Friday.

A number of other equities research analysts also recently issued reports on COR. KeyCorp restated a hold rating on shares of CoreSite Realty in a research report on Thursday, October 12th. 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. Citigroup upped their price objective on CoreSite Realty from $109.00 to $115.00 and gave the company a buy rating in a research report on Friday, October 27th. Credit Suisse Group set a $111.00 price objective on CoreSite Realty and gave the company a hold rating in a research report on Friday, October 27th. Finally, Zacks Investment Research downgraded CoreSite Realty from a buy rating to a hold rating in a research report on Thursday, November 2nd. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. CoreSite Realty currently has an average rating of Buy and an average target price of $113.00.

CoreSite Realty (NYSE:COR) opened at $97.40 on Friday. CoreSite Realty has a one year low of $83.82 and a one year high of $120.85. The company has a market capitalization of $3,335.28, a P/E ratio of 52.93, a P/E/G ratio of 1.15 and a beta of 0.33. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.29 and a current ratio of 0.27.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 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 company had revenue of $125.95 million during the quarter, compared to analyst estimates of $125.71 million. During the same period in the prior year, the company earned $1.06 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. equities analysts anticipate that CoreSite Realty will post 5 EPS for the current 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 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.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Carillon Tower Advisers Inc. purchased a new stake in shares of CoreSite Realty in the fourth quarter worth approximately $740,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in shares of CoreSite Realty in the fourth quarter worth approximately $989,000. Eaton Vance Management raised its holdings in shares of CoreSite Realty by 8.4% in the fourth quarter. Eaton Vance Management now owns 6,925 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 537 shares during the period. Capital Analysts LLC purchased a new stake in shares of CoreSite Realty in the fourth quarter worth approximately $3,368,000. Finally, OppenheimerFunds Inc. raised its holdings in shares of CoreSite Realty by 1.7% in the fourth quarter. OppenheimerFunds Inc. now owns 239,541 shares of the real estate investment trust’s stock worth $27,284,000 after buying an additional 3,971 shares during the period. Hedge funds and other institutional investors own 97.35% 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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