CoreSite Realty (NYSE:COR) had its target price upped by Royal Bank of Canada from $126.00 to $133.00 in a report published on Monday morning, The Fly reports. They currently have a sector perform rating on the real estate investment trust’s stock.
A number of other research firms have also weighed in on COR. Zacks Investment Research raised CoreSite Realty from a sell rating to a hold rating in a research note on Tuesday, July 28th. William Blair reaffirmed an outperform rating on shares of CoreSite Realty in a research note on Thursday, July 30th. Wells Fargo & Co upped their price objective on CoreSite Realty from $115.00 to $120.00 and gave the stock an equal weight rating in a research note on Friday, May 1st. Raymond James raised CoreSite Realty from a market perform rating to an outperform rating and set a $136.00 price target for the company in a research note on Thursday, August 6th. Finally, Barclays began coverage on CoreSite Realty in a research note on Wednesday, July 15th. They set an underweight rating and a $110.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $122.50.
CoreSite Realty stock traded up $1.40 during mid-day trading on Monday, reaching $123.06. 264,362 shares of the stock traded hands, compared to its average volume of 348,332. The stock has a market capitalization of $5.17 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.29. The company has a debt-to-equity ratio of 12.28, a current ratio of 0.14 and a quick ratio of 0.14. CoreSite Realty has a 12-month low of $90.07 and a 12-month high of $130.56. The business’s 50-day moving average is $124.29 and its 200-day moving average is $118.14.
CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The business had revenue of $150.54 million during the quarter, compared to analyst estimates of $149.87 million. CoreSite Realty had a return on equity of 39.91% and a net margin of 12.77%. CoreSite Realty’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 earnings per share. Equities analysts anticipate that CoreSite Realty will post 5.22 EPS for the current fiscal year.
In other CoreSite Realty news, CAO Mark R. Jones sold 750 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $129.06, for a total transaction of $96,795.00. Following the sale, the chief accounting officer now directly owns 13,371 shares in the company, valued at $1,725,661.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Iv Aiv Gp L.L.C. Crp sold 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $124.56, for a total value of $249,120,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,251,717 shares of company stock valued at $281,447,061. 1.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Garrison Asset Management LLC raised its position in CoreSite Realty by 2.5% during the first quarter. Garrison Asset Management LLC now owns 3,505 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 85 shares during the period. Victory Capital Management Inc. raised its holdings in shares of CoreSite Realty by 2.0% in the first quarter. Victory Capital Management Inc. now owns 4,782 shares of the real estate investment trust’s stock worth $554,000 after buying an additional 94 shares during the period. Fifth Third Bancorp raised its holdings in shares of CoreSite Realty by 2.6% in the second quarter. Fifth Third Bancorp now owns 3,848 shares of the real estate investment trust’s stock worth $466,000 after buying an additional 99 shares during the period. Utah Retirement Systems raised its holdings in shares of CoreSite Realty by 1.2% in the first quarter. Utah Retirement Systems now owns 8,236 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 100 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in shares of CoreSite Realty by 5.0% in the second quarter. Engineers Gate Manager LP now owns 2,280 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 94.09% of the company’s stock.
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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