Shares of CoreSite Realty Corp (NYSE:COR) have earned an average rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $110.33.
COR has been the topic of a number of research reports. Raymond James decreased their price objective on CoreSite Realty from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Stifel Nicolaus set a $110.00 price objective on CoreSite Realty and gave the company a “hold” rating in a report on Friday, July 26th. ValuEngine downgraded CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research raised CoreSite Realty from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $112.00 target price on shares of CoreSite Realty in a research note on Thursday, July 25th.
CoreSite Realty stock traded down $0.12 during mid-day trading on Wednesday, hitting $109.97. The company had a trading volume of 37,442 shares, compared to its average volume of 297,422. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.18 and a quick ratio of 0.18. CoreSite Realty has a 12-month low of $82.64 and a 12-month high of $121.64. The firm’s fifty day moving average is $113.46. The stock has a market cap of $4.05 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.68 and a beta of 0.55.
CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.75). The company had revenue of $142.91 million during the quarter, compared to analysts’ expectations of $142.85 million. CoreSite Realty had a return on equity of 24.19% and a net margin of 13.82%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 EPS. On average, sell-side analysts expect that CoreSite Realty will post 5.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $1.22 dividend. The ex-dividend date was Thursday, June 27th. This is an increase from CoreSite Realty’s previous quarterly dividend of $1.10. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.44%. CoreSite Realty’s dividend payout ratio (DPR) is 96.44%.
In related news, insider Mark R. Jones sold 500 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $119.15, for a total transaction of $59,575.00. Following the completion of the sale, the insider now directly owns 15,382 shares of the company’s stock, valued at approximately $1,832,765.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Steven James Smith sold 5,745 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $117.03, for a total value of $672,337.35. Following the sale, the executive now directly owns 41,649 shares of the company’s stock, valued at $4,874,182.47. The disclosure for this sale can be found here. Insiders sold a total of 816,295 shares of company stock valued at $90,463,675 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
Several large investors have recently modified their holdings of COR. Zions Bancorporation N.A. boosted its holdings in CoreSite Realty by 5.7% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,686 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 91 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of CoreSite Realty by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the real estate investment trust’s stock valued at $1,049,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of CoreSite Realty by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,790 shares of the real estate investment trust’s stock valued at $782,000 after buying an additional 100 shares during the period. BB&T Securities LLC boosted its stake in shares of CoreSite Realty by 4.7% in the 2nd quarter. BB&T Securities LLC now owns 2,223 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 100 shares during the period. Finally, Torch Wealth Management LLC boosted its stake in shares of CoreSite Realty by 1.0% in the 1st quarter. Torch Wealth Management LLC now owns 13,308 shares of the real estate investment trust’s stock valued at $1,424,000 after buying an additional 138 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.
CoreSite Realty Company Profile
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world's leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads.
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