CoreSite Realty (NYSE:COR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Coresite Realty Corporation provides data center products and interconnection services. The data centers include ample and redundant power and advanced cooling and security systems, and many are points of dense network interconnection. The company’s data centers are located in Los Angeles, the San Francisco Bay and northern Virginia areas, Chicago, Boston, New York City, and Miami. It serves telecommunications carriers, content and media entertainment providers, cloud providers, enterprise customers, financial and educational institutions, and government agencies. CoreSite Realty Corporation is headquartered in Denver, Colorado. “

Several other brokerages have also issued reports on COR. Citigroup set a $104.00 target price on CoreSite Realty and gave the company a “hold” rating in a research note on Monday, November 5th. TheStreet lowered CoreSite Realty from a “b-” rating to a “c” rating in a research note on Thursday, October 25th. BMO Capital Markets lowered their target price on CoreSite Realty from $111.00 to $107.00 and set a “market perform” rating on the stock in a research note on Friday, October 26th. Credit Suisse Group set a $111.00 target price on CoreSite Realty and gave the company a “hold” rating in a research note on Thursday, December 20th. Finally, Jefferies Financial Group lowered CoreSite Realty from a “buy” rating to a “hold” rating and lowered their target price for the company from $107.00 to $102.00 in a research note on Monday, December 10th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $114.31.

Shares of COR opened at $100.02 on Friday. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.31 and a beta of 0.72. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.21 and a current ratio of 0.15. CoreSite Realty has a 1 year low of $82.64 and a 1 year high of $117.82.

CoreSite Realty (NYSE:COR) last issued its earnings results on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. The firm had revenue of $139.10 million for the quarter, compared to analyst estimates of $139.89 million. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. Research analysts anticipate that CoreSite Realty will post 5.22 earnings per share for the current fiscal year.

In other news, SVP Steven James Smith sold 3,200 shares of CoreSite Realty stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $100.00, for a total value of $320,000.00. Following the completion of the transaction, the senior vice president now directly owns 44,736 shares in the company, valued at $4,473,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of CoreSite Realty by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,337,300 shares of the real estate investment trust’s stock valued at $593,187,000 after purchasing an additional 204,628 shares in the last quarter. Vanguard Group Inc grew its position in CoreSite Realty by 4.0% during the third quarter. Vanguard Group Inc now owns 5,337,300 shares of the real estate investment trust’s stock worth $593,187,000 after buying an additional 204,628 shares in the last quarter. BlackRock Inc. grew its position in CoreSite Realty by 3.5% during the fourth quarter. BlackRock Inc. now owns 3,883,540 shares of the real estate investment trust’s stock worth $338,762,000 after buying an additional 133,124 shares in the last quarter. Renaissance Technologies LLC grew its position in CoreSite Realty by 18.5% during the third quarter. Renaissance Technologies LLC now owns 843,100 shares of the real estate investment trust’s stock worth $93,702,000 after buying an additional 131,400 shares in the last quarter. Finally, Aviva PLC grew its position in CoreSite Realty by 80.3% during the third quarter. Aviva PLC now owns 720,943 shares of the real estate investment trust’s stock worth $80,126,000 after buying an additional 321,008 shares in the last quarter. Institutional investors own 94.50% 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.

See Also: Growth Stocks

Get a free copy of the Zacks research report on CoreSite Realty (COR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CoreSite Realty (NYSE:COR)

Receive News & Ratings for CoreSite Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreSite Realty and related companies with MarketBeat.com's FREE daily email newsletter.