Equities researchers at Wells Fargo & Co initiated coverage on shares of CoreSite Realty Corp (NYSE:COR) in a research report issued to clients and investors on Wednesday. The brokerage set a “market perform” rating and a $94.00 price target on the real estate investment trust’s stock. Wells Fargo & Co’s target price would suggest a potential downside of 5.20% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of CoreSite Realty Corp from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, February 23rd. Citigroup Inc cut shares of CoreSite Realty Corp from a “buy” rating to a “neutral” rating and set a $103.00 price target on the stock. in a research report on Wednesday, May 3rd. Macquarie initiated coverage on shares of CoreSite Realty Corp in a research report on Thursday, April 6th. They set a “neutral” rating and a $84.00 price target on the stock. Finally, Guggenheim cut shares of CoreSite Realty Corp from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Tuesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $87.60.

Analyst Recommendations for CoreSite Realty Corp (NYSE:COR)

Shares of CoreSite Realty Corp (NYSE:COR) traded down 0.08% during mid-day trading on Wednesday, reaching $99.16. The company’s stock had a trading volume of 517,135 shares. The firm has a market capitalization of $3.33 billion, a PE ratio of 60.10 and a beta of 0.66. CoreSite Realty Corp has a 52 week low of $64.81 and a 52 week high of $102.11. The firm has a 50-day moving average of $94.59 and a 200-day moving average of $84.32.

CoreSite Realty Corp (NYSE:COR) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. The company had revenue of $114.92 million during the quarter, compared to analysts’ expectations of $114.48 million. CoreSite Realty Corp had a net margin of 14.14% and a return on equity of 11.45%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. Equities research analysts forecast that CoreSite Realty Corp will post $1.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 29th. This represents a $3.20 annualized dividend and a dividend yield of 3.23%. CoreSite Realty Corp’s payout ratio is 207.79%.

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In other news, SVP Derek Mccandless sold 2,867 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $90.22, for a total transaction of $258,660.74. Following the transaction, the senior vice president now owns 63,899 shares of the company’s stock, valued at $5,764,967.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey S. Finnin sold 23,925 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $89.77, for a total transaction of $2,147,747.25. Following the transaction, the chief financial officer now directly owns 99,444 shares in the company, valued at approximately $8,927,087.88. The disclosure for this sale can be found here. Insiders have sold 82,245 shares of company stock worth $7,414,045 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of COR. Moore Capital Management LP boosted its position in shares of CoreSite Realty Corp by 20.2% in the third quarter. Moore Capital Management LP now owns 210,300 shares of the real estate investment trust’s stock worth $15,571,000 after buying an additional 35,300 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of CoreSite Realty Corp by 387.8% in the third quarter. Two Sigma Advisers LP now owns 61,006 shares of the real estate investment trust’s stock worth $4,517,000 after buying an additional 48,500 shares in the last quarter. Zacks Investment Management boosted its position in shares of CoreSite Realty Corp by 21.5% in the third quarter. Zacks Investment Management now owns 5,515 shares of the real estate investment trust’s stock worth $408,000 after buying an additional 976 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of CoreSite Realty Corp by 8.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 20,889 shares of the real estate investment trust’s stock worth $1,547,000 after buying an additional 1,710 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of CoreSite Realty Corp by 141.6% in the third quarter. ProShare Advisors LLC now owns 11,563 shares of the real estate investment trust’s stock worth $856,000 after buying an additional 6,776 shares in the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

CoreSite Realty Corp 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.

5 Day Chart for NYSE:COR

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