CoreSite Realty (NYSE:COR) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report released on Wednesday, Zacks.com reports.
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 equities analysts have also issued reports on COR. Mizuho began coverage on CoreSite Realty in a research note on Wednesday, December 2nd. They set a "neutral" rating and a $135.00 price target on the stock. Credit Suisse Group upgraded CoreSite Realty from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $142.00 to $161.00 in a research note on Wednesday, January 6th. Wells Fargo & Company lowered CoreSite Realty from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $120.00 to $115.00 in a research note on Thursday, December 10th. Finally, BidaskClub lowered CoreSite Realty from a "sell" rating to a "strong sell" rating in a research note on Thursday, January 7th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of "Hold" and a consensus target price of $124.90.
Shares of CoreSite Realty stock traded up $1.97 during trading on Wednesday, reaching $119.27. The company's stock had a trading volume of 184,046 shares, compared to its average volume of 319,934. The company has a debt-to-equity ratio of 16.41, a quick ratio of 0.22 and a current ratio of 0.22. The business's fifty day moving average price is $122.31 and its 200-day moving average price is $122.74. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 59.34, a price-to-earnings-growth ratio of 1.01 and a beta of 0.23. CoreSite Realty has a one year low of $90.07 and a one year high of $131.36.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.79). The business had revenue of $154.00 million during the quarter, compared to the consensus estimate of $152.67 million. CoreSite Realty had a return on equity of 51.47% and a net margin of 13.19%. The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Sell-side analysts anticipate that CoreSite Realty will post 5.29 EPS for the current year.
In related news, SVP Brian Warren sold 4,950 shares of the firm's stock in a transaction dated Friday, November 20th. The shares were sold at an average price of $127.03, for a total value of $628,798.50. Following the completion of the sale, the senior vice president now directly owns 26,964 shares in the company, valued at approximately $3,425,236.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maile Kaiser sold 2,366 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $119.83, for a total transaction of $283,517.78. Following the completion of the sale, the senior vice president now owns 15,071 shares of the company's stock, valued at $1,805,957.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,066 shares of company stock valued at $1,612,364. Company insiders own 1.50% of the company's stock.
Hedge funds have recently modified their holdings of the business. Brookstone Capital Management lifted its stake in CoreSite Realty by 4.6% during the fourth quarter. Brookstone Capital Management now owns 3,849 shares of the real estate investment trust's stock worth $482,000 after purchasing an additional 170 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in CoreSite Realty by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the real estate investment trust's stock valued at $1,340,000 after acquiring an additional 100 shares during the period. State of Alaska Department of Revenue increased its stake in CoreSite Realty by 15.6% during the fourth quarter. State of Alaska Department of Revenue now owns 22,690 shares of the real estate investment trust's stock valued at $2,841,000 after acquiring an additional 3,055 shares during the period. Sei Investments Co. increased its stake in CoreSite Realty by 10.7% during the third quarter. Sei Investments Co. now owns 38,294 shares of the real estate investment trust's stock valued at $4,551,000 after acquiring an additional 3,709 shares during the period. Finally, Brinker Capital Investments LLC bought a new position in CoreSite Realty during the third quarter valued at about $1,236,000. Hedge funds and other institutional investors own 95.16% of the company's stock.
About CoreSite Realty
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud 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.
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