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.
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