CoreSite Realty Corporation (COR) Receives $96.90 Consensus Price Target from Brokerages

CoreSite Realty Corporation (NYSE:COR) has received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $93.25.

Several brokerages recently commented on COR. Zacks Investment Research downgraded shares of CoreSite Realty Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and set a $117.00 price objective on shares of CoreSite Realty Corporation in a research report on Friday, July 14th. Macquarie reissued a “hold” rating and set a $84.00 price objective on shares of CoreSite Realty Corporation in a research report on Tuesday, July 4th. BidaskClub downgraded shares of CoreSite Realty Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of CoreSite Realty Corporation in a research report on Tuesday, July 18th.

CoreSite Realty Corporation (NYSE COR) opened at 107.92 on Friday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 65.41 and a beta of 0.57. CoreSite Realty Corporation has a 1-year low of $64.81 and a 1-year high of $113.55. The stock has a 50 day moving average of $105.85 and a 200-day moving average of $95.34.

CoreSite Realty Corporation (NYSE:COR) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. The firm had revenue of $117.89 million for the quarter, compared to the consensus estimate of $117.32 million. CoreSite Realty Corporation had a net margin of 15.08% and a return on equity of 13.09%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities research analysts anticipate that CoreSite Realty Corporation will post $1.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, June 28th. This is a boost from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. CoreSite Realty Corporation’s dividend payout ratio is 218.18%.

In other CoreSite Realty Corporation news, SVP Steven James Smith sold 1,152 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $100.00, for a total transaction of $115,200.00. Following the completion of the sale, the senior vice president now directly owns 53,888 shares of the company’s stock, valued at approximately $5,388,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $98.75, for a total transaction of $790,000.00. Following the sale, the chief financial officer now directly owns 113,268 shares of the company’s stock, valued at $11,185,215. The disclosure for this sale can be found here. Insiders sold a total of 19,152 shares of company stock worth $1,960,000 in the last quarter. Company insiders own 3.10% of the company’s stock.

A number of large investors have recently made changes to their positions in COR. Texas Permanent School Fund raised its position in CoreSite Realty Corporation by 1.6% in the second quarter. Texas Permanent School Fund now owns 24,964 shares of the real estate investment trust’s stock worth $2,585,000 after buying an additional 400 shares during the period. World Asset Management Inc acquired a new position in CoreSite Realty Corporation during the second quarter worth $265,000. Daiwa Securities Group Inc. raised its position in CoreSite Realty Corporation by 19.2% in the second quarter. Daiwa Securities Group Inc. now owns 3,100 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 500 shares during the period. Great West Life Assurance Co. Can raised its position in CoreSite Realty Corporation by 4.2% in the second quarter. Great West Life Assurance Co. Can now owns 49,346 shares of the real estate investment trust’s stock worth $5,108,000 after buying an additional 2,010 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in CoreSite Realty Corporation during the second quarter worth $1,155,000.

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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.

Analyst Recommendations for CoreSite Realty Corporation (NYSE:COR)

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