CoreSite Realty Corporation (COR) Receives Consensus Recommendation of “Buy” from Analysts
Shares of CoreSite Realty Corporation (NYSE:COR) have received an average rating of “Buy” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $106.89.
Several research firms have commented on COR. BidaskClub upgraded shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of CoreSite Realty Corporation from a “sell” rating to a “hold” rating and set a $124.00 price target for the company in a report on Monday, July 31st. Citigroup Inc. boosted their price target on shares of CoreSite Realty Corporation from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Credit Suisse Group set a $111.00 price target on shares of CoreSite Realty Corporation and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $117.00 price target on shares of CoreSite Realty Corporation in a report on Friday, July 14th.
CoreSite Realty Corporation (NYSE:COR) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.64). CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. The firm had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. During the same quarter last year, the firm earned $0.90 EPS. The company’s revenue was up 21.5% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $3.60 annualized dividend and a dividend yield of 3.25%. CoreSite Realty Corporation’s dividend payout ratio is presently 195.65%.
In other news, CEO Paul E. Szurek sold 3,805 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total transaction of $447,011.40. Following the completion of the sale, the chief executive officer now owns 93,405 shares in the company, valued at approximately $10,973,219.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of COR. UBS Asset Management Americas Inc. lifted its position in shares of CoreSite Realty Corporation by 17.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 21,647 shares of the real estate investment trust’s stock worth $1,949,000 after buying an additional 3,168 shares during the last quarter. Stifel Financial Corp raised its position in CoreSite Realty Corporation by 5.3% in the 1st quarter. Stifel Financial Corp now owns 2,903 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 145 shares during the last quarter. OppenheimerFunds Inc. raised its position in CoreSite Realty Corporation by 26.2% in the 1st quarter. OppenheimerFunds Inc. now owns 3,931 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 817 shares during the last quarter. PNC Financial Services Group Inc. raised its position in CoreSite Realty Corporation by 11.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,178 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 435 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in CoreSite Realty Corporation by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 457,964 shares of the real estate investment trust’s stock valued at $41,239,000 after purchasing an additional 23,454 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.
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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