CoreSite Realty (NYSE:COR) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reiterated their hold rating on shares of CoreSite Realty (NYSE:COR) in a report published on Thursday, AnalystRatings.com reports. They currently have a $112.00 price target on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on COR. Zacks Investment Research downgraded First Merchants from a hold rating to a sell rating in a report on Monday, July 1st. Stifel Nicolaus reissued a buy rating and issued a $170.00 target price on shares of Spotify in a report on Friday, April 26th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $113.50.

NYSE COR opened at $105.18 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.18 and a debt-to-equity ratio of 4.74. CoreSite Realty has a twelve month low of $82.64 and a twelve month high of $121.64. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.54 and a beta of 0.56. The company’s 50 day moving average price is $116.23.

CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.75). CoreSite Realty had a net margin of 13.82% and a return on equity of 24.19%. The firm had revenue of $142.91 million for the quarter, compared to the consensus estimate of $142.85 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts predict that CoreSite Realty will post 5.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $1.22 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $4.88 annualized dividend and a dividend yield of 4.64%. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.10. CoreSite Realty’s payout ratio is currently 96.44%.

In other news, insider Mark R. Jones sold 500 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $119.15, for a total value of $59,575.00. Following the completion of the transaction, the insider now owns 15,382 shares in the company, valued at $1,832,765.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Steven James Smith sold 1,300 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $120.00, for a total value of $156,000.00. Following the completion of the transaction, the executive now owns 40,349 shares of the company’s stock, valued at approximately $4,841,880. The disclosure for this sale can be found here. Insiders sold 16,145 shares of company stock valued at $1,866,706 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of COR. Tortoise Index Solutions LLC purchased a new position in shares of CoreSite Realty in the first quarter worth $28,000. Bremer Bank National Association purchased a new position in shares of CoreSite Realty in the first quarter worth $40,000. Steward Partners Investment Advisory LLC purchased a new stake in CoreSite Realty during the second quarter valued at $51,000. Private Capital Group LLC increased its position in CoreSite Realty by 28.1% during the first quarter. Private Capital Group LLC now owns 702 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 154 shares during the last quarter. Finally, Institutional & Family Asset Management LLC increased its position in CoreSite Realty by 33.3% during the first quarter. Institutional & Family Asset Management LLC now owns 800 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.22% of the company’s stock.

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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Analyst Recommendations for CoreSite Realty (NYSE:COR)

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