CoreSite Realty (COR) Trading Down 5.9%

CoreSite Realty Corp (NYSE:COR)’s share price traded down 5.9% during trading on Thursday . The company traded as low as $95.98 and last traded at $96.37. 877,391 shares were traded during mid-day trading, an increase of 129% from the average session volume of 383,777 shares. The stock had previously closed at $102.46.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of CoreSite Realty in a report 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. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $112.82.

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $4,630.00, a P/E ratio of 52.38, a PEG ratio of 1.19 and a beta of 0.33.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The business had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $125.71 million. During the same period in the prior year, the company posted $1.06 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. equities analysts forecast that CoreSite Realty Corp will post 4.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, December 28th. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.07%. CoreSite Realty’s dividend payout ratio is 213.04%.

In other news, SVP Steven James Smith sold 3,151 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $106.52, for a total transaction of $335,644.52. Following the transaction, the senior vice president now directly owns 42,915 shares of the company’s stock, valued at approximately $4,571,305.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 150,000 shares of company stock worth $55,000 and have sold 12,533 shares worth $1,379,689. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Zions Bancorporation purchased a new stake in shares of CoreSite Realty in the 3rd quarter worth about $170,000. Intrust Bank NA purchased a new stake in shares of CoreSite Realty in the 4th quarter worth about $200,000. Park Avenue Securities LLC purchased a new stake in shares of CoreSite Realty in the 3rd quarter worth about $207,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of CoreSite Realty in the 4th quarter worth about $208,000. Finally, FDx Advisors Inc. purchased a new stake in shares of CoreSite Realty in the 3rd quarter worth about $209,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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About CoreSite Realty

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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