CoreSite Realty Corp (COR) Given Consensus Rating of “Buy” by Brokerages

CoreSite Realty Corp (NYSE:COR) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $108.11.

A number of analysts have recently commented on COR shares. Credit Suisse Group set a $111.00 price target on CoreSite Realty and gave the company a “hold” rating in a research note on Friday, October 27th. J P Morgan Chase & Co started coverage on CoreSite Realty in a research note on Monday, September 25th. They set a “neutral” rating and a $118.00 price target on the stock. Citigroup lifted their price target on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 27th. William Blair started coverage on CoreSite Realty in a research note on Friday, September 22nd. They set an “outperform” rating on the stock. Finally, Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd.

CoreSite Realty (NYSE:COR) traded down $1.48 during trading on Friday, reaching $111.60. The company’s stock had a trading volume of 213,000 shares, compared to its average volume of 423,378. CoreSite Realty has a 1 year low of $76.96 and a 1 year high of $120.85. The company has a market capitalization of $5,370.00, a PE ratio of 25.76, a PEG ratio of 1.48 and a beta of 0.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The firm had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. During the same period in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. research analysts forecast that CoreSite Realty will post 4.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.98 dividend. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, December 28th. CoreSite Realty’s payout ratio is currently 195.65%.

In other CoreSite Realty news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the transaction, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the transaction, the senior vice president now directly owns 36,613 shares in the company, valued at $4,004,363.81. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in shares of CoreSite Realty by 4.3% during the third quarter. Wells Fargo & Company MN now owns 1,702,550 shares of the real estate investment trust’s stock valued at $190,516,000 after acquiring an additional 70,274 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CoreSite Realty by 5.7% during the second quarter. JPMorgan Chase & Co. now owns 876,830 shares of the real estate investment trust’s stock valued at $90,778,000 after acquiring an additional 47,340 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of CoreSite Realty by 44.9% during the second quarter. Principal Financial Group Inc. now owns 536,724 shares of the real estate investment trust’s stock valued at $55,567,000 after acquiring an additional 166,193 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of CoreSite Realty by 53.3% during the second quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock valued at $52,529,000 after acquiring an additional 176,489 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CoreSite Realty by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 499,857 shares of the real estate investment trust’s stock valued at $55,932,000 after acquiring an additional 22,342 shares in the last quarter. 97.74% of the stock is currently owned by hedge funds and other institutional investors.

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CoreSite Realty 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.

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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