CoreSite Realty’s (COR) Buy Rating Reiterated at Jefferies Group
Other research analysts also recently issued reports about the company. SunTrust Banks reissued a buy rating and issued a $121.00 price objective on shares of CoreSite Realty in a research note on Friday, November 17th. ValuEngine raised CoreSite Realty from a hold rating to a buy rating in a research note on Thursday, November 9th. Citigroup raised their price objective on CoreSite Realty from $109.00 to $115.00 and gave the company a buy rating in a research note on Friday, October 27th. Cowen reissued a buy rating and issued a $111.00 price objective on shares of CoreSite Realty in a research note on Thursday, October 19th. Finally, KeyCorp reissued a hold rating on shares of CoreSite Realty in a research note on Thursday, October 12th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. CoreSite Realty currently has an average rating of Buy and an average target price of $112.75.
CoreSite Realty (COR) opened at $97.40 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 2.24. CoreSite Realty has a one year low of $83.82 and a one year high of $120.85. The firm has a market capitalization of $3,335.17, a P/E ratio of 52.93, a P/E/G ratio of 1.15 and a beta of 0.33.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.98 dividend. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 annualized dividend and a yield of 4.02%. The ex-dividend date was Thursday, December 28th. CoreSite Realty’s payout ratio is currently 213.04%.
In other CoreSite Realty news, SVP Steven James Smith sold 7,121 shares of CoreSite Realty stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total value of $802,750.33. Following the transaction, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at approximately $5,426,484.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders acquired 150,000 shares of company stock worth $55,000 and sold 12,533 shares worth $1,379,689. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Atlantic Trust Group LLC acquired a new stake in shares of CoreSite Realty during the 3rd quarter worth approximately $35,764,000. Fisher Asset Management LLC acquired a new stake in shares of CoreSite Realty during the 3rd quarter worth approximately $32,098,000. BlackRock Inc. grew its holdings in shares of CoreSite Realty by 6.2% during the 4th quarter. BlackRock Inc. now owns 3,362,411 shares of the real estate investment trust’s stock worth $382,978,000 after purchasing an additional 196,323 shares in the last quarter. Payden & Rygel grew its holdings in shares of CoreSite Realty by 3,343.6% during the 3rd quarter. Payden & Rygel now owns 134,300 shares of the real estate investment trust’s stock worth $15,028,000 after purchasing an additional 130,400 shares in the last quarter. Finally, Land & Buildings Investment Management LLC acquired a new stake in shares of CoreSite Realty during the 3rd quarter worth approximately $11,391,000. 97.99% of the stock is currently owned by institutional investors.
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CoreSite Realty Company Profile
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.
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