CoreSite Realty (COR) Price Target Lowered to $107.00 at Credit Suisse Group
CoreSite Realty (NYSE:COR) had its target price lowered by investment analysts at Credit Suisse Group from $111.00 to $107.00 in a note issued to investors on Friday. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Credit Suisse Group’s target price points to a potential upside of 9.98% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the company. Robert W. Baird cut their target price on CoreSite Realty from $129.00 to $126.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup cut their target price on CoreSite Realty from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday. Jefferies Group reissued a “buy” rating on shares of CoreSite Realty in a research note on Thursday. Mitsubishi UFJ Financial Group assumed coverage on CoreSite Realty in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $124.00 target price on the stock. Finally, SunTrust Banks reissued a “buy” rating and issued a $133.00 target price on shares of CoreSite Realty in a research note on Thursday, December 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. CoreSite Realty presently has an average rating of “Buy” and a consensus price target of $112.75.
CoreSite Realty (NYSE:COR) traded up $0.92 on Friday, reaching $97.29. The company’s stock had a trading volume of 74,975 shares, compared to its average volume of 370,336. CoreSite Realty has a twelve month low of $83.82 and a twelve month high of $120.85. The company has a market capitalization of $3,508.38, a P/E ratio of 52.66, a price-to-earnings-growth ratio of 1.20 and a beta of 0.33. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29.
In related news, SVP Steven James Smith sold 7,121 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total transaction of $802,750.33. Following the sale, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at $5,426,484.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have purchased 150,000 shares of company stock worth $55,000 and have sold 12,533 shares worth $1,379,689. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC purchased a new stake in shares of CoreSite Realty during the third quarter valued at $9,571,000. Eagle Asset Management Inc. boosted its position in shares of CoreSite Realty by 4.4% during the third quarter. Eagle Asset Management Inc. now owns 66,444 shares of the real estate investment trust’s stock valued at $7,428,000 after buying an additional 2,771 shares during the last quarter. Copper Rock Capital Partners LLC boosted its position in CoreSite Realty by 47.7% in the fourth quarter. Copper Rock Capital Partners LLC now owns 72,787 shares of the real estate investment trust’s stock worth $8,315,000 after purchasing an additional 23,491 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in CoreSite Realty in the third quarter worth about $630,000. Finally, Oppenheimer Asset Management Inc. boosted its position in CoreSite Realty by 64.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 11,303 shares of the real estate investment trust’s stock worth $1,266,000 after purchasing an additional 4,428 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors.
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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