Zacks Investment Research lowered shares of CoreSite Realty Corporation (NYSE:COR) from a buy rating to a hold rating in a report issued on Thursday, November 2nd.
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. “
A number of other brokerages also recently issued reports on COR. BidaskClub raised shares of CoreSite Realty Corporation from a buy rating to a strong-buy rating in a report on Friday, August 25th. KeyCorp reissued a hold rating on shares of CoreSite Realty Corporation in a report on Tuesday, September 12th. Cowen and Company reissued a buy rating and set a $111.00 price target on shares of CoreSite Realty Corporation in a report on Thursday, October 19th. William Blair assumed coverage on shares of CoreSite Realty Corporation in a research report on Friday, September 22nd. They set an outperform rating for the company. Finally, Citigroup Inc. upped their price objective on shares of CoreSite Realty Corporation from $109.00 to $115.00 and gave the stock a buy rating in a research report on Friday, October 27th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $108.45.
Shares of CoreSite Realty Corporation (NYSE:COR) opened at $116.40 on Thursday. The company has a market cap of $3,936.75, a price-to-earnings ratio of 26.19, a PEG ratio of 1.51 and a beta of 0.43. 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 Corporation has a twelve month low of $67.36 and a twelve month high of $120.85.
CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.64). The business had revenue of $123.07 million during the quarter, compared to analysts’ expectations of $121.27 million. CoreSite Realty Corporation had a net margin of 15.21% and a return on equity of 15.35%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. sell-side analysts predict that CoreSite Realty Corporation will post 4.48 earnings per share for the current fiscal year.
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In other news, CEO Paul E. Szurek sold 3,805 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total value of $447,011.40. Following the completion of the transaction, the chief executive officer now owns 93,405 shares of the company’s stock, valued at $10,973,219.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Derek Mccandless sold 5,000 shares of CoreSite Realty Corporation stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total transaction of $546,850.00. Following the completion of the transaction, the senior vice president now owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,805 shares of company stock valued at $1,876,481. 1.50% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of COR. UBS Asset Management Americas Inc. raised its holdings in CoreSite Realty Corporation by 17.1% during the first quarter. UBS Asset Management Americas Inc. now owns 21,647 shares of the real estate investment trust’s stock worth $1,949,000 after purchasing an additional 3,168 shares in the last quarter. Stifel Financial Corp raised its holdings in CoreSite Realty Corporation by 5.3% during the first quarter. Stifel Financial Corp now owns 2,903 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 145 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in CoreSite Realty Corporation by 26.2% during the first quarter. OppenheimerFunds Inc. now owns 3,931 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 817 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CoreSite Realty Corporation by 11.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,178 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 435 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in CoreSite Realty Corporation by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 457,964 shares of the real estate investment trust’s stock worth $41,239,000 after purchasing an additional 23,454 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.
CoreSite Realty Corporation Company Profile
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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