CoreSite Realty’s (COR) Buy Rating Reaffirmed at Jefferies Group
COR has been the topic of several other reports. ValuEngine raised shares of CoreSite Realty from a hold rating to a buy rating in a report on Thursday, November 9th. KeyCorp reissued a hold rating on shares of CoreSite Realty in a research note on Thursday, October 12th. Credit Suisse Group set a $111.00 price objective on shares of CoreSite Realty and gave the company a hold rating in a research note on Wednesday, January 17th. SunTrust Banks reissued a buy rating and issued a $121.00 price objective on shares of CoreSite Realty in a research note on Friday, November 17th. Finally, Cowen reissued a buy rating and issued a $111.00 price objective on shares of CoreSite Realty in a research note on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $112.75.
CoreSite Realty (NYSE COR) opened at $97.40 on Thursday. CoreSite Realty has a fifty-two week low of $83.82 and a fifty-two week high of $120.85. The company has a market cap of $3,335.28, a P/E ratio of 21.60, a PEG ratio of 1.15 and a beta of 0.33. The company has a current ratio of 0.27, a quick ratio of 0.29 and a debt-to-equity ratio of 2.24.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 4.02%. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, December 28th. CoreSite Realty’s dividend payout ratio (DPR) is 213.04%.
In other CoreSite Realty news, SVP Steven James Smith sold 7,121 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $112.73, for a total value of $802,750.33. Following the sale, the senior vice president now owns 48,137 shares in the company, valued at $5,426,484.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders acquired 150,000 shares of company stock worth $55,000 and sold 12,533 shares worth $1,379,689. Company insiders own 1.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of COR. Zions Bancorporation acquired a new stake in CoreSite Realty in the third quarter valued at approximately $170,000. Intrust Bank NA acquired a new stake in CoreSite Realty in the fourth quarter valued at approximately $200,000. Park Avenue Securities LLC acquired a new stake in CoreSite Realty in the third quarter valued at approximately $207,000. Jaffetilchin Investment Partners LLC acquired a new stake in CoreSite Realty in the fourth quarter valued at approximately $208,000. Finally, FDx Advisors Inc. acquired a new stake in CoreSite Realty in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.
CoreSite Realty Company Profile
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., 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, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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