UBS Group upgraded shares of CoreSite Realty (NYSE:COR) from a market perform rating to an outperform rating in a research note released on Monday morning, The Fly reports.
A number of other equities research analysts have also issued reports on the stock. SunTrust Banks reissued a buy rating and issued a $133.00 price target on shares of CoreSite Realty in a report on Thursday, December 7th. Royal Bank of Canada reaffirmed an outperform rating and issued a $113.00 target price on shares of CoreSite Realty in a research report on Monday, February 12th. Credit Suisse Group set a $111.00 target price on shares of CoreSite Realty and gave the stock a hold rating in a research report on Wednesday, January 17th. ValuEngine cut shares of CoreSite Realty from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Robert W. Baird dropped their target price on shares of CoreSite Realty from $129.00 to $126.00 and set an outperform rating for the company in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. CoreSite Realty currently has an average rating of Buy and an average price target of $112.77.
Shares of CoreSite Realty (NYSE:COR) opened at $101.81 on Monday. The stock has a market cap of $3,362.33, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.16 and a beta of 0.48. CoreSite Realty has a twelve month low of $86.47 and a twelve month high of $120.85. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.27 and a quick 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $125.95 million for the quarter, compared to analyst estimates of $125.71 million. CoreSite Realty had a net margin of 15.54% and a return on equity of 16.77%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. equities analysts expect that CoreSite Realty will post 5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 28th. This represents a $3.92 dividend on an annualized basis and a yield of 3.85%. CoreSite Realty’s dividend payout ratio (DPR) is currently 213.04%.
In related news, SVP Steven James Smith sold 7,121 shares of CoreSite Realty stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $112.73, for a total transaction of $802,750.33. Following the completion of the transaction, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at approximately $5,426,484.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Derek Mccandless sold 3,827 shares of CoreSite Realty stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $97.58, for a total transaction of $373,438.66. Following the transaction, the senior vice president now directly owns 32,524 shares of the company’s stock, valued at $3,173,691.92. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 198,000 shares of company stock valued at $64,780 and have sold 43,481 shares valued at $4,303,685. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new position in CoreSite Realty during the 4th quarter valued at about $359,000. Envestnet Asset Management Inc. lifted its position in CoreSite Realty by 23.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,471 shares of the real estate investment trust’s stock valued at $1,420,000 after acquiring an additional 2,394 shares during the period. Lake Street Advisors Group LLC purchased a new position in CoreSite Realty during the 4th quarter valued at about $314,000. MetLife Investment Advisors LLC purchased a new position in CoreSite Realty during the 4th quarter valued at about $2,464,000. Finally, Vident Investment Advisory LLC purchased a new position in CoreSite Realty during the 4th quarter valued at about $233,000. 99.51% of the stock is owned by institutional investors.
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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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