CoreSite Realty Corp. (COR) Stock Price Down 4.3%
CoreSite Realty Corp. (NYSE:COR) shares fell 4.3% on Monday . The stock traded as low as $86.69 and last traded at $87.55, with a volume of 740,068 shares. The stock had previously closed at $91.49.
Several brokerages have weighed in on COR. Stifel Nicolaus lowered CoreSite Realty Corp. from a “hold” rating to a “sell” rating and set a $79.00 target price on the stock. in a research report on Monday. Citigroup Inc. upped their price target on CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday. Canaccord Genuity began coverage on CoreSite Realty Corp. in a research note on Tuesday, June 7th. They set a “buy” rating and a $92.00 price target for the company. Stephens downgraded CoreSite Realty Corp. from an “overweight” rating to an “equal weight” rating in a research note on Friday, April 29th. Finally, Zacks Investment Research upgraded CoreSite Realty Corp. from a “hold” rating to a “strong-buy” rating and set a $83.00 price target for the company in a research note on Tuesday, April 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $76.06.
The firm has a market capitalization of $2.69 billion and a PE ratio of 73.98. The firm’s 50 day moving average is $82.61 and its 200 day moving average is $70.12.
CoreSite Realty Corp. (NYSE:COR) last posted its earnings results on Thursday, April 28th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The business had revenue of $92.48 million for the quarter, compared to the consensus estimate of $93.90 million. The business’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Analysts forecast that CoreSite Realty Corp. will post $3.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $2.12 annualized dividend and a yield of 2.41%.
In other news, CEO Peter D. Staple purchased 12,500 shares of the company’s stock in a transaction on Monday, May 16th. The shares were purchased at an average price of $3.60 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now directly owns 43,000 shares of the company’s stock, valued at approximately $154,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeffrey S. Finnin sold 4,000 shares of CoreSite Realty Corp. stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $75.52, for a total value of $302,080.00. Following the completion of the sale, the chief financial officer now directly owns 124,944 shares in the company, valued at approximately $9,435,770.88. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its stake in CoreSite Realty Corp. by 130.3% in the fourth quarter. GSA Capital Partners LLP now owns 19,720 shares of the real estate investment trust’s stock valued at $1,119,000 after buying an additional 11,156 shares in the last quarter. Turner Investments L.P. increased its stake in CoreSite Realty Corp. by 12.0% in the fourth quarter. Turner Investments L.P. now owns 28,000 shares of the real estate investment trust’s stock valued at $1,588,000 after buying an additional 3,000 shares in the last quarter. SECOR Capital Advisors LP increased its stake in CoreSite Realty Corp. by 423.0% in the fourth quarter. SECOR Capital Advisors LP now owns 29,020 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 23,471 shares in the last quarter. Comerica Bank increased its stake in CoreSite Realty Corp. by 15.6% in the fourth quarter. Comerica Bank now owns 30,949 shares of the real estate investment trust’s stock valued at $1,754,000 after buying an additional 4,169 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in CoreSite Realty Corp. by 1.1% in the fourth quarter. Whittier Trust Co. now owns 34,809 shares of the real estate investment trust’s stock valued at $1,974,000 after buying an additional 365 shares in the last quarter.
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered, and self-managed real estate investment trust (REIT). CoreSite, L.P. (Operating Partnership) is a limited partnership of which the Company is the sole general partner. Through its controlling interest in CoreSite, L.P., the Company is engaged in the business of ownership, acquisition, construction and management of data centers across a range of markets in the United States, including the New York; Northern Virginia, which include Washington DC; San Francisco Bay areas; Los Angeles; Chicago; Boston; Miami, and Denver.
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