CoreSite Realty Corp. (COR) Now Covered by 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 to clients and investors on Friday. The firm set a “market perform” rating on the real estate investment trust’s stock.
Other equities research analysts have also issued reports about the company. SunTrust Banks Inc. initiated coverage on CoreSite Realty Corp. in a research report on Thursday, July 21st. They set a “buy” rating and a $100.00 price target on the stock. Jefferies Group restated a “buy” rating and set a $60.00 price target (up from $50.00) on shares of CoreSite Realty Corp. in a research report on Tuesday, August 23rd. Zacks Investment Research lowered CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Stifel Nicolaus upgraded CoreSite Realty Corp. from a “sell” rating to a “hold” rating and set a $75.00 price target on the stock in a research report on Monday. Finally, Citigroup Inc. increased 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 given a buy rating to the stock. CoreSite Realty Corp. currently has an average rating of “Hold” and an average target price of $77.06.
Shares of CoreSite Realty Corp. (NYSE:COR) traded up 0.11% during midday trading on Friday, hitting $72.03. The stock had a trading volume of 48,955 shares. CoreSite Realty Corp. has a 52 week low of $53.62 and a 52 week high of $91.91. The stock has a 50 day moving average price of $77.55 and a 200-day moving average price of $78.31. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 53.91 and a beta of 0.81.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/coresite-realty-corp-cor-now-covered-by-analysts-at-raymond-james-financial-inc.html
CoreSite Realty Corp. (NYSE:COR) last released its quarterly earnings results 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 business had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.09 million. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. CoreSite Realty Corp.’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. Equities research analysts anticipate that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.95%. CoreSite Realty Corp.’s dividend payout ratio is presently 160.61%.
In other CoreSite Realty Corp. news, insider Thomas M. Ray sold 21,179 shares of the 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 owns 391,186 shares in the company, valued at approximately $31,909,042.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Dominic M. Tobin sold 10,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $81.65, for a total transaction of $816,500.00. Following the completion of the sale, the senior vice president now owns 41,385 shares of the company’s stock, valued at approximately $3,379,085.25. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Copper Rock Capital Partners LLC purchased a new stake in CoreSite Realty Corp. during the third quarter valued at approximately $297,000. Macquarie Group Ltd. purchased a new stake in CoreSite Realty Corp. during the second quarter valued at approximately $15,506,000. Mason Street Advisors LLC purchased a new stake in CoreSite Realty Corp. during the second quarter valued at approximately $529,000. Royal Bank of Canada raised its stake in CoreSite Realty Corp. by 31.4% in the second quarter. Royal Bank of Canada now owns 137,498 shares of the real estate investment trust’s stock valued at $12,194,000 after buying an additional 32,820 shares during the period. Finally, Howe & Rusling Inc. purchased a new stake in CoreSite Realty Corp. during the second quarter valued at approximately $114,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.
CoreSite Realty Corp. Company Profile
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.
Receive News & Ratings for CoreSite Realty Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreSite Realty Corp. and related companies with MarketBeat.com's FREE daily email newsletter.