CoreSite Realty Corp (COR) Receives Average Recommendation of “Hold” from Brokerages

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CoreSite Realty Corp (NYSE:COR) has been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $112.60.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 price objective for the company. in a research note on Monday, February 11th. Cowen reissued a “hold” rating and set a $106.00 price objective on shares of CoreSite Realty in a research note on Sunday, February 10th. Jefferies Financial Group reissued a “hold” rating and set a $100.00 price objective on shares of CoreSite Realty in a research note on Friday, February 8th. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of CoreSite Realty in a research note on Thursday, February 7th. Finally, Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 8th.

In other news, SVP Juan Font sold 656 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $101.70, for a total value of $66,715.20. Following the completion of the sale, the senior vice president now owns 18,185 shares of the company’s stock, valued at $1,849,414.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark R. Jones sold 600 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $105.42, for a total value of $63,252.00. Following the sale, the chief accounting officer now owns 15,021 shares of the company’s stock, valued at $1,583,513.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,101 shares of company stock valued at $2,642,102. 1.50% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings in shares of CoreSite Realty by 1.7% during the fourth quarter. Stifel Financial Corp now owns 7,687 shares of the real estate investment trust’s stock worth $665,000 after acquiring an additional 126 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of CoreSite Realty by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 47,583 shares of the real estate investment trust’s stock worth $4,151,000 after acquiring an additional 149 shares in the last quarter. American International Group Inc. raised its holdings in shares of CoreSite Realty by 0.3% during the fourth quarter. American International Group Inc. now owns 75,018 shares of the real estate investment trust’s stock worth $6,544,000 after acquiring an additional 190 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of CoreSite Realty by 42.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 200 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of CoreSite Realty by 3.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the real estate investment trust’s stock worth $497,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Shares of COR traded up $0.40 during trading hours on Friday, hitting $103.80. 375,067 shares of the company were exchanged, compared to its average volume of 340,834. The firm has a market cap of $3.81 billion, a PE ratio of 20.51, a P/E/G ratio of 1.41 and a beta of 0.74. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 3.38. CoreSite Realty has a one year low of $82.64 and a one year high of $117.82.

CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. The business had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.89 million. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.18 EPS. On average, equities research analysts anticipate that CoreSite Realty will post 5.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $1.10 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.40 annualized dividend and a dividend yield of 4.24%. CoreSite Realty’s dividend payout ratio (DPR) is presently 86.96%.

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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Analyst Recommendations for CoreSite Realty (NYSE:COR)

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