CoreSite Realty (NYSE:COR) was upgraded by research analysts at Raymond James from a "market perform" rating to an "outperform" rating in a report issued on Thursday, The Fly reports. The brokerage presently has a $136.00 price target on the real estate investment trust's stock. Raymond James' price target suggests a potential upside of 6.25% from the stock's current price.
Several other equities research analysts have also recently issued reports on COR. Wells Fargo & Co lifted their price objective on shares of CoreSite Realty from $115.00 to $120.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Credit Suisse Group lifted their price objective on shares of CoreSite Realty from $124.00 to $141.00 and gave the company a "neutral" rating in a research report on Tuesday. Barclays began coverage on shares of CoreSite Realty in a research report on Wednesday, July 15th. They set an "underweight" rating and a $110.00 price objective on the stock. Robert W. Baird cut shares of CoreSite Realty from an "outperform" rating to a "neutral" rating and set a $122.00 price objective on the stock. in a research report on Monday, April 13th. Finally, William Blair reiterated an "outperform" rating on shares of CoreSite Realty in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of "Hold" and an average target price of $121.33.
Shares of NYSE:COR opened at $128.00 on Thursday. The company has a debt-to-equity ratio of 12.28, a current ratio of 0.14 and a quick ratio of 0.17. CoreSite Realty has a 1-year low of $90.07 and a 1-year high of $130.21. The company has a market capitalization of $5.46 billion, a P/E ratio of 64.65, a P/E/G ratio of 1.18 and a beta of 0.29. The firm's 50 day simple moving average is $123.02 and its two-hundred day simple moving average is $117.65.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. CoreSite Realty had a net margin of 12.77% and a return on equity of 39.91%. The business had revenue of $150.54 million for the quarter, compared to the consensus estimate of $149.87 million. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The company's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that CoreSite Realty will post 5.22 earnings per share for the current fiscal year.
In other CoreSite Realty news, SVP Derek Mccandless sold 7,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $125.05, for a total transaction of $875,350.00. Following the transaction, the senior vice president now owns 28,834 shares in the company, valued at $3,605,691.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Iv Aiv Gp L.L.C. Crp sold 2,000,000 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $124.56, for a total transaction of $249,120,000.00. The disclosure for this sale can be found here. Insiders have sold 2,012,128 shares of company stock worth $250,651,235 in the last quarter. Company insiders own 1.50% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of COR. C M Bidwell & Associates Ltd. purchased a new stake in shares of CoreSite Realty during the first quarter valued at $42,000. Meeder Asset Management Inc. purchased a new stake in shares of CoreSite Realty during the first quarter valued at $44,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of CoreSite Realty during the second quarter valued at $66,000. Financial Management Professionals Inc. purchased a new stake in shares of CoreSite Realty during the second quarter valued at $73,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in CoreSite Realty in the first quarter worth about $74,000. 94.09% of the stock is owned by hedge funds and other institutional investors.
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.
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