CoreSite Realty (COR) Rating Reiterated by SunTrust Banks
CoreSite Realty (NYSE:COR)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks in a research note issued on Thursday. They currently have a $133.00 price target on the real estate investment trust’s stock. SunTrust Banks’ target price suggests a potential upside of 18.63% from the company’s current price.
A number of other brokerages have also weighed in on COR. Credit Suisse Group set a $111.00 target price on CoreSite Realty and gave the stock a “hold” rating in a research note on Friday, October 27th. BidaskClub upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. J P Morgan Chase & Co started coverage on CoreSite Realty in a research note on Monday, September 25th. They issued a “neutral” rating and a $118.00 target price on the stock. Citigroup upped their target price on CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, William Blair started coverage on CoreSite Realty in a report on Friday, September 22nd. They issued an “outperform” rating for the company. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. CoreSite Realty presently has a consensus rating of “Buy” and a consensus price target of $109.55.
CoreSite Realty (COR) traded up $0.76 during trading hours on Thursday, hitting $112.11. The company had a trading volume of 307,600 shares, compared to its average volume of 425,603. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29. CoreSite Realty has a 12 month low of $71.30 and a 12 month high of $120.85. The company has a market cap of $3,812.79, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.44.
CoreSite Realty (NYSE:COR) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.64). The business had revenue of $123.07 million during the quarter, compared to the consensus estimate of $121.27 million. CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. CoreSite Realty’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. sell-side analysts predict that CoreSite Realty will post 4.48 EPS for the current fiscal year.
In related news, SVP Derek Mccandless sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total transaction of $546,850.00. Following the completion of the sale, the senior vice president now directly owns 36,613 shares in the company, valued at approximately $4,004,363.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul E. Szurek sold 3,805 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total value of $447,011.40. Following the sale, the chief executive officer now owns 93,405 shares of the company’s stock, valued at $10,973,219.40. The disclosure for this sale can be found here. Insiders sold a total of 16,805 shares of company stock valued at $1,868,981 over the last quarter. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its holdings in CoreSite Realty by 91.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,956 shares of the real estate investment trust’s stock worth $3,240,000 after buying an additional 13,815 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in CoreSite Realty in the 3rd quarter worth approximately $1,199,000. Neuberger Berman Group LLC lifted its holdings in CoreSite Realty by 26.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 319,064 shares of the real estate investment trust’s stock worth $35,703,000 after buying an additional 67,201 shares during the period. California Public Employees Retirement System lifted its holdings in CoreSite Realty by 10.6% in the 3rd quarter. California Public Employees Retirement System now owns 77,329 shares of the real estate investment trust’s stock worth $8,653,000 after buying an additional 7,429 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in CoreSite Realty by 7.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,407 shares of the real estate investment trust’s stock worth $1,053,000 after buying an additional 616 shares during the period. Institutional investors own 98.91% of the company’s stock.
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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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