Brokerages Set CoreSite Realty Corp (NYSE:COR) Target Price at $110.11

CoreSite Realty Corp (NYSE:COR) has earned an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $112.00.

A number of equities analysts have commented on the stock. ValuEngine raised shares of CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Zacks Investment Research raised CoreSite Realty from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Monday. Finally, Stifel Nicolaus set a $105.00 target price on CoreSite Realty and gave the stock a “hold” rating in a report on Friday, April 26th.

COR stock traded up $3.73 during midday trading on Tuesday, reaching $118.70. 259,300 shares of the company were exchanged, compared to its average volume of 288,140. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.17 and a quick ratio of 0.17. The stock’s 50-day simple moving average is $116.16. CoreSite Realty has a one year low of $82.64 and a one year high of $120.93. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57.

CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.04). CoreSite Realty had a return on equity of 22.25% and a net margin of 13.96%. The company had revenue of $138.90 million for the quarter, compared to the consensus estimate of $140.06 million. During the same period last year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that CoreSite Realty will post 5.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from CoreSite Realty’s previous quarterly dividend of $1.10. CoreSite Realty’s dividend payout ratio (DPR) is currently 96.44%.

In related news, SVP Derek Mccandless sold 6,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $114.30, for a total value of $685,800.00. Following the completion of the transaction, the senior vice president now owns 29,531 shares of the company’s stock, valued at $3,375,393.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Steven James Smith sold 5,745 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $117.03, for a total value of $672,337.35. Following the completion of the transaction, the executive now directly owns 41,649 shares of the company’s stock, valued at approximately $4,874,182.47. The disclosure for this sale can be found here. Insiders have sold 14,845 shares of company stock valued at $1,710,706 in the last three months. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its stake in CoreSite Realty by 1.0% in the first 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 purchasing an additional 100 shares in the last quarter. Stifel Financial Corp raised its stake in CoreSite Realty by 1.7% in the fourth quarter. Stifel Financial Corp now owns 7,687 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 126 shares in the last quarter. Torch Wealth Management LLC raised its stake in CoreSite Realty by 1.0% in the first quarter. Torch Wealth Management LLC now owns 13,308 shares of the real estate investment trust’s stock valued at $1,424,000 after purchasing an additional 138 shares in the last quarter. Campbell Newman Asset Management Inc. raised its stake in CoreSite Realty by 2.5% in the first quarter. Campbell Newman Asset Management Inc. now owns 6,349 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 154 shares in the last quarter. Finally, Private Capital Group LLC raised its stake in CoreSite Realty by 28.1% in the first quarter. Private Capital Group LLC now owns 702 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 154 shares in the last quarter. 94.41% of the stock is owned by institutional investors and hedge funds.

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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