Shares of CoreSite Realty Corp. (NYSE:COR) fell 2.7% during mid-day trading on Wednesday . The stock traded as low as $73.59 and last traded at $73.89, with a volume of 409,365 shares trading hands. The stock had previously closed at $75.93.

Several research firms have recently issued reports on COR. Stifel Nicolaus lowered shares of CoreSite Realty Corp. from a “hold” rating to a “sell” rating and set a $79.00 price target on the stock. in a research report on Monday, July 11th. Citigroup Inc. boosted their price objective on shares of CoreSite Realty Corp. from $75.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. SunTrust Banks Inc. started coverage on shares of CoreSite Realty Corp. in a research note on Thursday, July 21st. They set a “buy” rating and a $100.00 price objective for the company. Canaccord Genuity started coverage on shares of CoreSite Realty Corp. in a research note on Tuesday, June 7th. They set a “buy” rating and a $92.00 price objective for the company. Finally, Jefferies Group reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $50.00) on shares of CoreSite Realty Corp. in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $77.06.

The company has a 50-day moving average price of $79.17 and a 200-day moving average price of $77.68. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 57.26 and a beta of 0.88.

CoreSite Realty Corp. (NYSE:COR) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. The company earned $96.10 million during the quarter, compared to the consensus estimate of $96.09 million. During the same period in the previous year, the company posted $0.68 earnings per share. CoreSite Realty Corp.’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities analysts expect that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, September 28th. CoreSite Realty Corp.’s payout ratio is 160.61%.

In other news, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.61, for a total transaction of $660,880.00. Following the completion of the transaction, the chief financial officer now directly owns 117,644 shares of the company’s stock, valued at approximately $9,718,570.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul E. Szurek bought 1,000 shares of CoreSite Realty Corp. stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average cost of $81.20 per share, with a total value of $81,200.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at $487,200. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of CoreSite Realty Corp. by 1.5% in the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 50 shares during the last quarter. Miles Capital Inc. increased its position in shares of CoreSite Realty Corp. by 1.4% in the second quarter. Miles Capital Inc. now owns 4,953 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 70 shares during the last quarter. M&T Bank Corp increased its position in shares of CoreSite Realty Corp. by 1.3% in the first quarter. M&T Bank Corp now owns 5,487 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 72 shares during the last quarter. American International Group Inc. increased its position in shares of CoreSite Realty Corp. by 0.3% in the second quarter. American International Group Inc. now owns 24,447 shares of the real estate investment trust’s stock valued at $2,168,000 after buying an additional 84 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of CoreSite Realty Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the real estate investment trust’s stock valued at $1,197,000 after buying an additional 100 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

CoreSite Realty Corp. Company Profile

CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company 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 (including Washington DC), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.

5 Day Chart for NYSE:COR

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