Brokerages Set CoreSite Realty Corp (COR) Target Price at $121.21
Shares of CoreSite Realty Corp (NYSE:COR) have earned an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $120.85.
COR has been the topic of a number of analyst reports. Cowen lowered CoreSite Realty from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $115.00 to $107.00 in a research report on Monday. Zacks Investment Research upgraded CoreSite Realty from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. Royal Bank of Canada upped their price target on CoreSite Realty to $123.00 and gave the company an “average” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Citigroup upped their price target on CoreSite Realty from $105.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, BMO Capital Markets initiated coverage on CoreSite Realty in a research report on Tuesday, July 17th. They issued a “market perform” rating and a $119.00 price target on the stock.
In other news, major shareholder Realty Iii Gp L.L.C. Carlyle sold 2,250,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total value of $251,797,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul E. Szurek sold 3,588 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $114.15, for a total value of $409,570.20. Following the completion of the transaction, the chief executive officer now directly owns 147,075 shares in the company, valued at $16,788,611.25. The disclosure for this sale can be found here. Insiders sold a total of 2,265,188 shares of company stock worth $253,540,426 over the last three months. 1.50% of the stock is owned by company insiders.
NYSE COR opened at $108.71 on Friday. CoreSite Realty has a 12 month low of $89.76 and a 12 month high of $119.59. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.38 and a beta of 0.27. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.23 and a current ratio of 0.23.
CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.67). CoreSite Realty had a net margin of 15.23% and a return on equity of 19.09%. The company had revenue of $136.40 million during the quarter, compared to the consensus estimate of $132.99 million. During the same quarter last year, the firm posted $1.10 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. equities research analysts expect that CoreSite Realty will post 5.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, September 27th. CoreSite Realty’s dividend payout ratio is 91.15%.
About CoreSite Realty
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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