Jefferies Group LLC reissued their buy rating on shares of CoreSite Realty Corporation (NYSE:COR) in a report issued on Friday morning. Jefferies Group LLC currently has a $117.00 price objective on the real estate investment trust’s stock.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded CoreSite Realty Corporation from a buy rating to a hold rating in a report on Tuesday, May 2nd. Macquarie initiated coverage on CoreSite Realty Corporation in a report on Thursday, April 6th. They issued a neutral rating and a $84.00 price target for the company. Citigroup Inc. downgraded CoreSite Realty Corporation from a buy rating to a neutral rating and set a $103.00 price target for the company. in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $110.00 price target on shares of CoreSite Realty Corporation in a report on Thursday, June 8th. Finally, Wells Fargo & Company initiated coverage on CoreSite Realty Corporation in a report on Wednesday, May 17th. They issued a market perform rating and a $94.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $97.45.
CoreSite Realty Corporation (NYSE:COR) remained flat at $104.21 during mid-day trading on Friday. 277,925 shares of the stock traded hands. CoreSite Realty Corporation has a 12 month low of $64.81 and a 12 month high of $113.55. The stock’s 50-day moving average price is $104.83 and its 200 day moving average price is $92.00. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 63.16 and a beta of 0.57.
CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.06. CoreSite Realty Corporation had a return on equity of 13.09% and a net margin of 15.08%. The business had revenue of $114.92 million during the quarter, compared to the consensus estimate of $114.48 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts forecast that CoreSite Realty Corporation will post $1.77 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.90 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $3.60 dividend on an annualized basis and a yield of 3.45%. This is a boost from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. CoreSite Realty Corporation’s payout ratio is currently 218.18%.
In other CoreSite Realty Corporation news, SVP Derek Mccandless sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $105.48, for a total value of $1,054,800.00. Following the completion of the sale, the senior vice president now owns 49,713 shares in the company, valued at $5,243,727.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Steven James Smith sold 1,152 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $100.00, for a total value of $115,200.00. Following the sale, the senior vice president now owns 53,888 shares of the company’s stock, valued at approximately $5,388,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,152 shares of company stock valued at $2,150,000. 3.10% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Miles Capital Inc. boosted its stake in CoreSite Realty Corporation by 0.3% in the first quarter. Miles Capital Inc. now owns 2,767 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 8 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in CoreSite Realty Corporation by 1.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,289 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 75 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in CoreSite Realty Corporation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,740 shares of the real estate investment trust’s stock valued at $697,000 after buying an additional 80 shares during the period. Envestnet Asset Management Inc. boosted its stake in CoreSite Realty Corporation by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 5,533 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 81 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in CoreSite Realty Corporation by 2.1% in the second quarter. Capstone Asset Management Co. now owns 6,883 shares of the real estate investment trust’s stock valued at $713,000 after buying an additional 140 shares during the period.
CoreSite Realty Corporation 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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