Stifel Nicolaus Reiterates $105.00 Price Target for CoreSite Realty (COR)

Stifel Nicolaus set a $105.00 price target on CoreSite Realty (NYSE:COR) in a research report report published on Friday, TipRanks reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

COR has been the subject of several other reports. Mitsubishi UFJ Financial Group reaffirmed an overweight rating on shares of CoreSite Realty in a research report on Thursday, February 7th. Zacks Investment Research raised CoreSite Realty from a hold rating to a buy rating and set a $95.00 price objective for the company in a research report on Thursday, January 3rd. Jefferies Financial Group reissued a hold rating and set a $100.00 price objective on shares of CoreSite Realty in a research report on Friday, February 8th. JPMorgan Chase & Co. downgraded CoreSite Realty from a neutral rating to an underweight rating and set a $95.00 price objective for the company. in a research report on Monday, February 11th. Finally, Cowen reissued a hold rating and set a $106.00 price objective on shares of CoreSite Realty in a research report on Sunday, February 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. CoreSite Realty currently has an average rating of Hold and a consensus target price of $109.91.

NYSE COR opened at $109.49 on Friday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.49 and a beta of 0.74. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.17 and a quick ratio of 0.15. CoreSite Realty has a 1-year low of $82.64 and a 1-year high of $117.82.

CoreSite Realty (NYSE:COR) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.04). The firm had revenue of $138.90 million during the quarter, compared to analyst estimates of $140.06 million. CoreSite Realty had a net margin of 13.96% and a return on equity of 22.25%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. On average, sell-side analysts forecast that CoreSite Realty will post 5.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Thursday, March 28th. CoreSite Realty’s dividend payout ratio (DPR) is 86.96%.

In related news, SVP Juan Font sold 287 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $103.80, for a total value of $29,790.60. Following the completion of the transaction, the senior vice president now directly owns 20,357 shares of the company’s stock, valued at $2,113,056.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark R. Jones sold 600 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $105.42, for a total value of $63,252.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,021 shares of the company’s stock, valued at $1,583,513.82. The disclosure for this sale can be found here. Insiders sold 35,487 shares of company stock valued at $3,614,083 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in COR. Bremer Trust National Association purchased a new stake in CoreSite Realty in the fourth quarter valued at approximately $54,000. Benjamin F. Edwards & Company Inc. lifted its stake in CoreSite Realty by 42.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 200 shares during the last quarter. Private Capital Group LLC lifted 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 buying an additional 154 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in CoreSite Realty in the fourth quarter valued at approximately $137,000. Finally, Jane Street Group LLC purchased a new stake in CoreSite Realty in the third quarter valued at approximately $212,000. 94.94% 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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Analyst Recommendations for CoreSite Realty (NYSE:COR)

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