CoreSite Realty Corp. (COR) Earns Market Perform Rating from Analysts at Raymond James Financial Inc.
Analysts at Raymond James Financial Inc. started coverage on shares of CoreSite Realty Corp. (NYSE:COR) in a research report issued on Friday. The firm set a “market perform” rating on the real estate investment trust’s stock.
A number of other research analysts also recently commented on the company. Stifel Nicolaus upgraded CoreSite Realty Corp. from a “sell” rating to a “hold” rating and set a $75.00 price objective for the company in a research note on Monday. Jefferies Group reiterated a “buy” rating on shares of CoreSite Realty Corp. in a research report on Tuesday, September 13th. Zacks Investment Research lowered CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. SunTrust Banks Inc. began coverage on CoreSite Realty Corp. in a research report on Thursday, July 21st. They set a “buy” rating and a $100.00 price target for the company. Finally, Citigroup Inc. boosted their price target 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.06.
CoreSite Realty Corp. (NYSE:COR) traded up 0.57% during midday trading on Friday, hitting $72.36. The stock had a trading volume of 41,411 shares. CoreSite Realty Corp. has a 12-month low of $53.62 and a 12-month high of $91.91. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 54.16 and a beta of 0.81. The company has a 50-day moving average price of $77.55 and a 200-day moving average price of $78.31.
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CoreSite Realty Corp. (NYSE:COR) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. The firm earned $96.10 million during the quarter, compared to the consensus estimate of $96.09 million. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. Equities analysts anticipate that CoreSite Realty Corp. will post $3.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, September 28th. CoreSite Realty Corp.’s dividend payout ratio is currently 160.61%.
In related news, SVP Dominic M. Tobin sold 10,000 shares of CoreSite Realty Corp. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $81.65, for a total value of $816,500.00. Following the sale, the senior vice president now owns 41,385 shares of the company’s stock, valued at $3,379,085.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas M. Ray sold 21,179 shares of CoreSite Realty Corp. stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $81.57, for a total value of $1,727,571.03. Following the completion of the sale, the insider now directly owns 391,186 shares in the company, valued at approximately $31,909,042.02. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of CoreSite Realty Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 5,163,842 shares of the real estate investment trust’s stock worth $457,981,000 after buying an additional 210,238 shares during the period. BlackRock Fund Advisors increased its position in shares of CoreSite Realty Corp. by 15.6% in the second quarter. BlackRock Fund Advisors now owns 1,998,311 shares of the real estate investment trust’s stock worth $177,230,000 after buying an additional 269,151 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of CoreSite Realty Corp. by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 915,763 shares of the real estate investment trust’s stock worth $81,219,000 after buying an additional 41,662 shares during the period. Lord Abbett & CO. LLC increased its position in shares of CoreSite Realty Corp. by 9.4% in the second quarter. Lord Abbett & CO. LLC now owns 844,683 shares of the real estate investment trust’s stock worth $74,915,000 after buying an additional 72,380 shares during the period. Finally, Capital Growth Management LP acquired a new position in shares of CoreSite Realty Corp. during the first quarter worth $51,457,000. 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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