CoreSite Realty (COR) Given “Outperform” Rating at Royal Bank of Canada

CoreSite Realty (NYSE:COR)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research report issued on Monday, The Fly reports. They presently have a $113.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s target price points to a potential upside of 14.98% from the stock’s current price.

COR has been the topic of several other research reports. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $121.00 price target on shares of CoreSite Realty in a research note on Friday, November 17th. Cowen reaffirmed a “buy” rating and set a $111.00 price target on shares of CoreSite Realty in a research note on Thursday, October 19th. Jefferies Group reaffirmed a “buy” rating on shares of CoreSite Realty in a research note on Thursday, February 8th. Finally, Citigroup dropped their price target on shares of CoreSite Realty from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $113.00.

Shares of CoreSite Realty (COR) opened at $98.28 on Monday. CoreSite Realty has a one year low of $83.82 and a one year high of $120.85. The stock has a market cap of $4,670.00, a price-to-earnings ratio of 53.41, a P/E/G ratio of 1.15 and a beta of 0.33. The company has a current ratio of 0.27, a quick ratio of 0.29 and a debt-to-equity ratio of 2.24.

CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. CoreSite Realty had a net margin of 15.54% and a return on equity of 16.77%. The firm had revenue of $125.95 million for the quarter, compared to the consensus estimate of $125.71 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. analysts expect that CoreSite Realty will post 5 earnings per share for the current fiscal year.

In other news, SVP Steven James Smith sold 2,261 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $106.72, for a total value of $241,293.92. Following the completion of the sale, the senior vice president now owns 42,915 shares of the company’s stock, valued at approximately $4,579,888.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders bought 150,000 shares of company stock valued at $55,000 and sold 12,533 shares valued at $1,379,689. 1.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COR. Zions Bancorporation acquired a new position in shares of CoreSite Realty in the 3rd quarter valued at about $170,000. Financial Gravity Companies Inc. acquired a new position in shares of CoreSite Realty in the 4th quarter valued at about $183,000. Intrust Bank NA acquired a new position in shares of CoreSite Realty in the 4th quarter valued at about $200,000. Park Avenue Securities LLC acquired a new position in shares of CoreSite Realty in the 3rd quarter valued at about $207,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of CoreSite Realty in the 4th quarter valued at about $208,000. 97.35% of the stock is owned by institutional investors.

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About CoreSite Realty

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.

The Fly

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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