CoreSite Realty Corp (NYSE:COR) Receives Average Rating of “Hold” from Analysts

CoreSite Realty Corp (NYSE:COR) has received an average rating of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $110.33.

A number of equities research analysts have recently issued reports on COR shares. Wells Fargo & Co boosted their price target on shares of CoreSite Realty from $105.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Raymond James boosted their price target on shares of CoreSite Realty from $110.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Zacks Investment Research lowered shares of CoreSite Realty from a “hold” rating to a “sell” rating in a report on Monday, January 6th. Finally, ValuEngine lowered shares of CoreSite Realty from a “hold” rating to a “sell” rating in a report on Saturday, December 21st.

In other CoreSite Realty news, SVP Brian Warren sold 10,931 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $118.59, for a total value of $1,296,307.29. Following the transaction, the senior vice president now owns 26,945 shares in the company, valued at approximately $3,195,407.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Mark R. Jones sold 750 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $120.30, for a total transaction of $90,225.00. Following the completion of the transaction, the chief accounting officer now owns 13,882 shares in the company, valued at approximately $1,670,004.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,881 shares of company stock worth $1,631,700. Company insiders own 1.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Knuff & Co LLC acquired a new position in shares of CoreSite Realty during the 3rd quarter worth $31,000. NEXT Financial Group Inc acquired a new position in shares of CoreSite Realty during the 3rd quarter worth $36,000. Usca Ria LLC acquired a new position in shares of CoreSite Realty during the 3rd quarter worth $61,000. Quest Capital Management Inc. ADV acquired a new position in shares of CoreSite Realty during the 3rd quarter worth $65,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of CoreSite Realty during the 2nd quarter worth $161,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Shares of COR stock traded up $1.42 during trading hours on Friday, reaching $116.96. 128,266 shares of the stock traded hands, compared to its average volume of 305,552. CoreSite Realty has a 1-year low of $92.18 and a 1-year high of $123.68. The business has a fifty day moving average price of $112.42 and a 200 day moving average price of $114.89. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 5.67. The firm has a market capitalization of $4.36 billion, a PE ratio of 23.11, a PEG ratio of 1.60 and a beta of 0.41.

CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.78). CoreSite Realty had a net margin of 13.48% and a return on equity of 26.30%. The firm had revenue of $144.90 million for the quarter, compared to analyst estimates of $145.19 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Research analysts expect that CoreSite Realty will post 5.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $1.22 dividend. The ex-dividend date was Monday, December 30th. This represents a $4.88 annualized dividend and a yield of 4.17%. CoreSite Realty’s dividend payout ratio is presently 96.44%.

About CoreSite Realty

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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