Raymond James Financial Inc. assumed coverage on shares of CoreSite Realty Corp. (NYSE:COR) in a research report released on Friday morning. The firm issued a market perform rating on the real estate investment trust’s stock.
COR has been the topic of a number of other reports. SunTrust Banks Inc. initiated coverage on CoreSite Realty Corp. in a research report on Thursday, July 21st. They issued a buy rating and a $100.00 target price on the stock. Zacks Investment Research downgraded CoreSite Realty Corp. from a buy rating to a hold rating in a research report on Thursday, August 25th. Jefferies Group reiterated a buy rating on shares of CoreSite Realty Corp. in a research report on Tuesday, September 6th. Citigroup Inc. boosted their target price on CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a neutral rating in a research report on Thursday, July 7th. Finally, Stifel Nicolaus upgraded CoreSite Realty Corp. from a sell rating to a hold rating and set a $75.00 target price on the stock in a research report on Monday, October 3rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $77.06.
Shares of CoreSite Realty Corp. (NYSE:COR) opened at 73.96 on Friday. The stock has a market cap of $2.37 billion, a PE ratio of 55.36 and a beta of 0.81. The firm has a 50-day moving average price of $76.87 and a 200 day moving average price of $78.49. CoreSite Realty Corp. has a 12-month low of $53.97 and a 12-month high of $91.91.
CoreSite Realty Corp. (NYSE:COR) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. The business had revenue of $96.10 million for the quarter, compared to the consensus estimate of $96.09 million. During the same period in the previous year, the business earned $0.68 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. Equities research analysts expect that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.12 annualized dividend and a yield of 2.87%. CoreSite Realty Corp.’s payout ratio is currently 160.61%.
In other CoreSite Realty Corp. news, Director Paul E. Szurek bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average price of $81.20 per share, with a total value of $81,200.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at approximately $487,200. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $82.61, for a total value of $660,880.00. Following the transaction, the chief financial officer now directly owns 117,644 shares in the company, valued at approximately $9,718,570.84. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COR. Howe & Rusling Inc. acquired a new position in CoreSite Realty Corp. during the second quarter worth approximately $114,000. BlackRock Inc. boosted its position in CoreSite Realty Corp. by 18.0% in the first quarter. BlackRock Inc. now owns 2,056 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 314 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in CoreSite Realty Corp. by 18.0% in the first quarter. BlackRock Japan Co. Ltd now owns 2,270 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 346 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in CoreSite Realty Corp. during the second quarter worth approximately $159,000. Finally, Acrospire Investment Management LLC acquired a new position in CoreSite Realty Corp. during the first quarter worth approximately $210,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
About CoreSite Realty Corp.
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company 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 (including Washington DC), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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