CoreSite Realty Corp. (COR) Sees Large Volume Increase
CoreSite Realty Corp. (NYSE:COR) shares saw an uptick in trading volume on Thursday . 492,723 shares traded hands during trading, a decline of 17% from the previous session’s volume of 590,158 shares.The stock last traded at $84.84 and had previously closed at $85.83.
Several research firms recently commented on COR. Zacks Investment Research upgraded shares of CoreSite Realty Corp. from a “hold” rating to a “strong-buy” rating and set a $83.00 price target on the stock in a research report on Tuesday, April 19th. Stifel Nicolaus lowered shares of 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. lifted their target price on shares of CoreSite Realty Corp. from $75.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Stephens lowered shares of CoreSite Realty Corp. from an “overweight” rating to an “equal weight” rating in a research report on Friday, April 29th. Finally, Canaccord Genuity assumed coverage on shares of CoreSite Realty Corp. in a research report on Tuesday, June 7th. They issued a “buy” rating and a $92.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. CoreSite Realty Corp. presently has an average rating of “Buy” and a consensus target price of $76.06.
The firm has a market cap of $2.59 billion and a PE ratio of 71.40. The firm has a 50-day moving average of $83.97 and a 200-day moving average of $70.87.
CoreSite Realty Corp. (NYSE:COR) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The business earned $92.48 million during the quarter, compared to analyst estimates of $93.90 million. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, analysts anticipate that CoreSite Realty Corp. will post $3.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, June 28th.
In related news, CEO Peter D. Staple bought 12,500 shares of the business’s stock in a transaction on Monday, May 16th. The shares were bought at an average cost of $3.60 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the chief executive officer now owns 43,000 shares of the company’s stock, valued at approximately $154,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Derek Mccandless sold 10,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $75.47, for a total value of $754,700.00. Following the completion of the sale, the senior vice president now owns 86,066 shares in the company, valued at $6,495,401.02. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of the stock. OppenheimerFunds Inc. bought a new stake in CoreSite Realty Corp. during the fourth quarter worth about $15,036,000. Morgan Stanley boosted its stake in CoreSite Realty Corp. by 138.8% in the fourth quarter. Morgan Stanley now owns 267,073 shares of the real estate investment trust’s stock worth $15,149,000 after buying an additional 155,212 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in CoreSite Realty Corp. by 42.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 379,987 shares of the real estate investment trust’s stock worth $21,553,000 after buying an additional 113,054 shares during the last quarter. Principal Financial Group Inc. boosted its stake in CoreSite Realty Corp. by 20.3% in the fourth quarter. Principal Financial Group Inc. now owns 207,715 shares of the real estate investment trust’s stock worth $11,781,000 after buying an additional 35,052 shares during the last quarter. Finally, SECOR Capital Advisors LP boosted 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 worth $1,646,000 after buying an additional 23,471 shares during 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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