CoreSite Realty Corporation (COR) Lifted to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of CoreSite Realty Corporation (NYSE:COR) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.
A number of other research firms also recently weighed in on COR. Zacks Investment Research raised shares of CoreSite Realty Corporation from a sell rating to a hold rating and set a $124.00 price target for the company in a research report on Monday, July 31st. Jefferies Group LLC reissued a buy rating and set a $119.00 price target on shares of CoreSite Realty Corporation in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a buy rating and set a $110.00 price target on shares of CoreSite Realty Corporation in a research report on Thursday, June 8th. Credit Suisse Group assumed coverage on shares of CoreSite Realty Corporation in a research report on Friday, June 30th. They set a neutral rating and a $103.00 price target for the company. Finally, Macquarie reissued a hold rating and set a $84.00 price target on shares of CoreSite Realty Corporation in a research report on Tuesday, July 4th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $98.00.
Shares of CoreSite Realty Corporation (NYSE COR) opened at 115.74 on Friday. CoreSite Realty Corporation has a 52 week low of $64.81 and a 52 week high of $116.40. The firm has a market capitalization of $3.96 billion, a P/E ratio of 66.59 and a beta of 0.57. The firm has a 50-day moving average of $107.92 and a 200 day moving average of $98.99.
CoreSite Realty Corporation (NYSE:COR) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. The company had revenue of $117.89 million for the quarter, compared to analyst estimates of $117.32 million. During the same quarter last year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts expect that CoreSite Realty Corporation will post $1.84 EPS for the current fiscal year.
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In other CoreSite Realty Corporation news, SVP Derek Mccandless sold 10,000 shares of CoreSite Realty Corporation stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $105.48, for a total value of $1,054,800.00. Following the completion of the transaction, the senior vice president now owns 49,713 shares of the company’s stock, valued at $5,243,727.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total transaction of $885,920.00. Following the completion of the transaction, the chief financial officer now directly owns 110,493 shares of the company’s stock, valued at approximately $12,235,994.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,000 shares of company stock valued at $3,048,120. 1.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in COR. Creative Planning increased its position in CoreSite Realty Corporation by 129.2% in the first quarter. Creative Planning now owns 2,292 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 1,292 shares in the last quarter. Jane Street Group LLC acquired a new position in CoreSite Realty Corporation during the first quarter worth approximately $233,000. Raymond James Financial Services Advisors Inc. acquired a new position in CoreSite Realty Corporation during the first quarter worth approximately $722,000. State of Tennessee Treasury Department increased its position in CoreSite Realty Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 31,850 shares of the real estate investment trust’s stock worth $2,868,000 after buying an additional 4,807 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new position in CoreSite Realty Corporation during the first quarter worth approximately $6,154,000. 98.47% of the stock is owned by hedge funds and other institutional investors.
About CoreSite Realty Corporation
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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