CoreSite Realty Corp (COR) Receives Consensus Rating of “Buy” from Brokerages
Shares of CoreSite Realty Corp (NYSE:COR) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $109.70.
COR has been the subject of several recent research reports. Zacks Investment Research upgraded CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Wednesday, September 27th. Citigroup lifted their price target on CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Cowen reiterated a “buy” rating and issued a $111.00 price target on shares of CoreSite Realty in a research report on Thursday, October 19th. SunTrust Banks reiterated a “buy” rating and issued a $121.00 price target on shares of CoreSite Realty in a research report on Friday, November 17th. Finally, ValuEngine upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th.
Shares of CoreSite Realty (NYSE:COR) traded down $3.03 during mid-day trading on Tuesday, hitting $105.67. The stock had a trading volume of 787,500 shares, compared to its average volume of 384,500. CoreSite Realty has a 1 year low of $82.64 and a 1 year high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $5,260.00, a PE ratio of 57.43, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, December 28th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90. CoreSite Realty’s payout ratio is 213.04%.
In other news, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total transaction of $875,120.00. Following the completion of the sale, the chief financial officer now owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Derek Mccandless sold 5,000 shares of CoreSite Realty stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total transaction of $546,850.00. Following the sale, the senior vice president now directly owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The disclosure for this sale can be found here. Insiders have sold 20,121 shares of company stock valued at $2,224,720 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Zions Bancorporation bought a new stake in shares of CoreSite Realty during the third quarter valued at approximately $170,000. Schroder Investment Management Group bought a new stake in shares of CoreSite Realty during the second quarter valued at approximately $188,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of CoreSite Realty during the fourth quarter valued at approximately $208,000. Park Avenue Securities LLC bought a new stake in shares of CoreSite Realty during the third quarter valued at approximately $207,000. Finally, FDx Advisors Inc. bought a new position in CoreSite Realty in the third quarter worth approximately $209,000. 98.02% of the stock is owned by hedge funds and other institutional investors.
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About CoreSite Realty
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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