Shares of CoreSite Realty Corp (NYSE:COR) have received a consensus rating of “Buy” from the eleven ratings firms that are covering the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $89.17.
COR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded CoreSite Realty Corp from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Thursday, February 23rd. Citigroup Inc upgraded CoreSite Realty Corp from a “neutral” rating to a “buy” rating in a research report on Thursday, December 8th. Guggenheim initiated coverage on CoreSite Realty Corp in a research report on Thursday, December 1st. They issued a “buy” rating and a $79.00 price target for the company. Finally, KeyCorp upgraded CoreSite Realty Corp to an “overweight” rating in a research report on Wednesday, December 21st.
In related news, CFO Jeffrey S. Finnin sold 14,900 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $88.27, for a total transaction of $1,315,223.00. Following the sale, the chief financial officer now owns 133,993 shares of the company’s stock, valued at $11,827,562.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey S. Finnin sold 23,925 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $89.77, for a total value of $2,147,747.25. Following the sale, 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. In the last ninety days, insiders have sold 71,093 shares of company stock worth $6,318,845. Corporate insiders own 3.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of COR. Fortaleza Asset Management Inc. bought a new stake in CoreSite Realty Corp during the fourth quarter worth approximately $101,000. Tyers Asset Management LLC bought a new stake in CoreSite Realty Corp during the fourth quarter worth approximately $105,000. Riverhead Capital Management LLC raised its stake in CoreSite Realty Corp by 430.3% in the third quarter. Riverhead Capital Management LLC now owns 1,400 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,136 shares during the last quarter. Flinton Capital Management LLC bought a new stake in CoreSite Realty Corp during the fourth quarter worth approximately $133,000. Finally, BlackRock Japan Co. Ltd raised its stake in CoreSite Realty Corp by 9.0% in the third quarter. BlackRock Japan Co. Ltd now owns 2,379 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 196 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.
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Shares of CoreSite Realty Corp (NYSE:COR) opened at 88.87 on Monday. The company has a 50-day moving average of $87.96 and a 200 day moving average of $79.49. CoreSite Realty Corp has a one year low of $64.81 and a one year high of $91.91. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 57.71 and a beta of 0.66.
CoreSite Realty Corp (NYSE:COR) last announced its quarterly earnings results on Thursday, February 9th. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.67. CoreSite Realty Corp had a return on equity of 11.45% and a net margin of 14.14%. The business earned $110.50 million during the quarter, compared to analysts’ expectations of $107.37 million. During the same quarter last year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. Equities research analysts forecast that CoreSite Realty Corp will post $1.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, March 29th. CoreSite Realty Corp’s payout ratio is currently 207.79%.
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.
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