CoreSite Realty Corporation (NYSE:COR) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of CoreSite Realty Corporation (NYSE:COR) from a hold rating to a buy rating in a research note issued to investors on Thursday, November 9th.

Several other equities research analysts have also recently commented on COR. BidaskClub cut CoreSite Realty from a buy rating to a hold rating in a research note on Thursday, August 10th. J P Morgan Chase & Co began coverage on CoreSite Realty in a research note on Monday, September 25th. They issued a neutral rating and a $118.00 price target for the company. Zacks Investment Research raised CoreSite Realty from a hold rating to a buy rating and set a $122.00 price target for the company in a research note on Wednesday, September 27th. William Blair started coverage on CoreSite Realty in a research report on Friday, September 22nd. They set an outperform rating for the company. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $117.00 target price on shares of CoreSite Realty in a research report on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $108.45.

Shares of CoreSite Realty (NYSE:COR) opened at $118.05 on Thursday. The company has a market capitalization of $4,030.63, a P/E ratio of 26.81, a P/E/G ratio of 1.54 and a beta of 0.43. CoreSite Realty has a 12 month low of $67.36 and a 12 month high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). The firm had revenue of $123.07 million during the quarter, compared to the consensus estimate of $121.27 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. research analysts expect that CoreSite Realty will post 4.48 earnings per share for the current year.

In other news, CEO Paul E. Szurek sold 3,805 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total transaction of $447,011.40. Following the completion of the transaction, the chief executive officer now directly owns 93,405 shares in the company, valued at $10,973,219.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Derek Mccandless sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the transaction, the senior vice president now owns 36,613 shares of the company’s stock, valued at $4,004,363.81. The disclosure for this sale can be found here. Insiders have sold 16,805 shares of company stock valued at $1,868,981 in the last ninety days. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently modified their holdings of COR. Penserra Capital Management LLC acquired a new position in shares of CoreSite Realty during the second quarter worth approximately $103,000. US Bancorp DE lifted its holdings in shares of CoreSite Realty by 6.7% during the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 75 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of CoreSite Realty by 4.6% during the second quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 56 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of CoreSite Realty by 14.6% during the second quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 174 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of CoreSite Realty by 115.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,461 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 783 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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