CoreSite Realty Corp (COR) Given Consensus Rating of “Buy” by Analysts

Shares of CoreSite Realty Corp (NYSE:COR) have been given an average recommendation of “Buy” by the sixteen brokerages that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $111.33.

A number of brokerages have recently commented on COR. Mitsubishi UFJ Financial Group began coverage on CoreSite Realty in a report on Wednesday, January 10th. They set an “overweight” rating and a $124.00 price objective on the stock. Citigroup increased their price objective on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 27th. Credit Suisse Group lowered their price objective on CoreSite Realty from $111.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday. Robert W. Baird lowered their price objective on CoreSite Realty from $129.00 to $126.00 and set an “outperform” rating on the stock in a report on Friday. Finally, ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th.

In related news, SVP Steven James Smith sold 7,121 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total transaction of $802,750.33. Following the completion of the sale, the senior vice president now owns 48,137 shares in the company, valued at approximately $5,426,484.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 150,000 shares of company stock valued at $55,000 and have sold 12,533 shares valued at $1,379,689. 1.50% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its stake in CoreSite Realty by 38.7% during the 4th quarter. Suntrust Banks Inc. now owns 20,874 shares of the real estate investment trust’s stock valued at $2,376,000 after purchasing an additional 5,826 shares during the period. Baird Financial Group Inc. bought a new stake in CoreSite Realty during the 4th quarter valued at approximately $259,000. ARP Americas LP bought a new stake in CoreSite Realty during the 4th quarter valued at approximately $1,036,000. American International Group Inc. boosted its stake in CoreSite Realty by 1.3% during the 4th quarter. American International Group Inc. now owns 70,833 shares of the real estate investment trust’s stock valued at $8,068,000 after purchasing an additional 883 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in CoreSite Realty during the 4th quarter valued at approximately $5,911,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

Shares of CoreSite Realty (NYSE:COR) traded up $1.03 during mid-day trading on Friday, reaching $97.40. The company’s stock had a trading volume of 811,924 shares, compared to its average volume of 369,182. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.29 and a current ratio of 0.27. CoreSite Realty has a 12 month low of $83.82 and a 12 month high of $120.85. The firm has a market cap of $4,730.00, a price-to-earnings ratio of 52.93, a P/E/G ratio of 1.13 and a beta of 0.33.

CoreSite Realty (NYSE:COR) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. CoreSite Realty had a return on equity of 16.77% and a net margin of 15.54%. The company had revenue of $125.95 million for the quarter, compared to analyst estimates of $125.71 million. During the same period in the prior year, the firm posted $1.06 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. sell-side analysts forecast that CoreSite Realty will post 5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.98 per share. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 28th. This represents a $3.92 annualized dividend and a yield of 4.02%. CoreSite Realty’s dividend payout ratio is presently 213.04%.

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About CoreSite Realty

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.

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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