CoreSite Realty Corp. (COR) to Issue Quarterly Dividend of $0.53 on October 17th
CoreSite Realty Corp. (NYSE:COR) declared a quarterly dividend on Friday, September 2nd. Shareholders of record on Friday, September 30th will be given a dividend of 0.53 per share by the real estate investment trust on Monday, October 17th. This represents a $2.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Wednesday, September 28th.
Shares of CoreSite Realty Corp. (NYSE:COR) opened at 77.72 on Friday. The firm’s 50-day moving average is $78.99 and its 200 day moving average is $77.67. CoreSite Realty Corp. has a 52 week low of $49.77 and a 52 week high of $91.91. The firm has a market cap of $2.49 billion, a PE ratio of 58.17 and a beta of 0.88.
CoreSite Realty Corp. (NYSE:COR) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share 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 analysts’ expectations of $96.09 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts forecast that CoreSite Realty Corp. will post $3.61 EPS for the current year.
In other news, Director Paul E. Szurek acquired 1,000 shares of CoreSite Realty Corp. stock in a transaction on Tuesday, August 16th. The stock was bought at an average price of $81.20 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Derek Mccandless sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $82.37, for a total value of $823,700.00. Following the completion of the sale, the senior vice president now owns 76,066 shares of the company’s stock, valued at approximately $6,265,556.42. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of CoreSite Realty Corp. during the second quarter worth $232,000. Zacks Investment Management bought a new stake in CoreSite Realty Corp. during the second quarter valued at approximately $403,000. ProShare Advisors LLC boosted its stake in CoreSite Realty Corp. by 30.4% in the second quarter. ProShare Advisors LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 1,116 shares during the period. National Asset Management Inc. boosted its stake in CoreSite Realty Corp. by 102.6% in the second quarter. National Asset Management Inc. now owns 8,672 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 4,391 shares during the period. Finally, Nuveen Fund Advisors LLC bought a new stake in CoreSite Realty Corp. during the second quarter valued at approximately $501,000. Institutional investors own 95.19% of the company’s stock.
A number of equities research analysts have recently commented on the stock. SunTrust Banks Inc. assumed 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 on the stock. Canaccord Genuity assumed 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 on the stock. 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. Zacks Investment Research cut shares of CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Finally, Citigroup Inc. raised their price objective on shares of CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $77.06.
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.
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