CoreSite Realty Corporation (NYSE:COR)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a report released on Friday. They presently have a $117.00 price target on the real estate investment trust’s stock. Jefferies Group LLC’s price objective points to a potential upside of 12.27% from the company’s current price.
Several other research analysts have also recently issued reports on COR. Macquarie started coverage on shares of CoreSite Realty Corporation in a report on Thursday, April 6th. They set a “neutral” rating and a $84.00 price target for the company. Zacks Investment Research cut shares of CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Citigroup Inc. cut shares of CoreSite Realty Corporation from a “buy” rating to a “neutral” rating and set a $103.00 target price for the company. in a report on Wednesday, May 3rd. Wells Fargo & Company started coverage on shares of CoreSite Realty Corporation in a report on Wednesday, May 17th. They issued a “market perform” rating and a $94.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $110.00 target price on shares of CoreSite Realty Corporation in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $97.45.
CoreSite Realty Corporation (NYSE COR) opened at 104.21 on Friday. CoreSite Realty Corporation has a 52 week low of $64.81 and a 52 week high of $113.55. The company has a 50 day moving average price of $104.83 and a 200 day moving average price of $92.00. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 63.16 and a beta of 0.57.
CoreSite Realty Corporation (NYSE:COR) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.06. The firm had revenue of $114.92 million during the quarter, compared to analysts’ expectations of $114.48 million. CoreSite Realty Corporation had a net margin of 15.08% and a return on equity of 13.09%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. Analysts expect that CoreSite Realty Corporation will post $1.77 EPS for the current fiscal year.
In other news, SVP Steven James Smith sold 2,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $95.00, for a total value of $190,000.00. Following the sale, the senior vice president now directly owns 55,040 shares in the company, valued at $5,228,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derek Mccandless sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $105.48, for a total transaction of $1,054,800.00. Following the completion of the sale, the senior vice president now owns 49,713 shares in the company, valued at $5,243,727.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,152 shares of company stock valued at $2,150,000. 3.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in CoreSite Realty Corporation by 203.8% in the first quarter. IFP Advisors Inc now owns 1,188 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 797 shares in the last quarter. Creative Planning raised its stake 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 valued at $206,000 after buying an additional 1,292 shares in the last quarter. Covenant Asset Management LLC acquired a new stake in CoreSite Realty Corporation during the second quarter valued at approximately $207,000. Pitcairn Co. acquired a new stake in CoreSite Realty Corporation during the first quarter valued at approximately $216,000. Finally, Everence Capital Management Inc. acquired a new stake in CoreSite Realty Corporation during the first quarter valued at approximately $221,000.
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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