Cowen and Company Reaffirms “Buy” Rating for CoreSite Realty Corporation (COR)

CoreSite Realty Corporation (NYSE:COR)‘s stock had its “buy” rating restated by investment analysts at Cowen and Company in a report issued on Thursday, October 19th. They presently have a $111.00 price target on the real estate investment trust’s stock. Cowen and Company’s target price would indicate a potential upside of 0.43% from the company’s current price.

Several other equities analysts also recently weighed in on the company. KeyCorp reissued a “hold” rating on shares of CoreSite Realty Corporation in a research report on Thursday, October 12th. Zacks Investment Research upgraded CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Wednesday, September 27th. J P Morgan Chase & Co assumed coverage on CoreSite Realty Corporation in a report on Monday, September 25th. They set a “neutral” rating and a $118.00 price objective on the stock. William Blair assumed coverage on CoreSite Realty Corporation in a report on Friday, September 22nd. They set an “outperform” rating on the stock. Finally, BidaskClub upgraded CoreSite Realty Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. CoreSite Realty Corporation has an average rating of “Buy” and a consensus price target of $107.20.

CoreSite Realty Corporation (NYSE:COR) traded up 0.27% on Thursday, hitting $110.53. The stock had a trading volume of 402,792 shares. The company has a 50-day moving average of $112.25 and a 200 day moving average of $106.78. The company has a market cap of $3.78 billion, a PE ratio of 63.60 and a beta of 0.56. CoreSite Realty Corporation has a 12 month low of $64.81 and a 12 month high of $120.85.

CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.64). The company had revenue of $123.07 million for the quarter, compared to analysts’ expectations of $121.27 million. CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. On average, analysts predict that CoreSite Realty Corporation will post $1.83 EPS for the current fiscal year.

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In related news, SVP Derek Mccandless sold 10,000 shares of CoreSite Realty Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total value of $1,107,400.00. Following the transaction, the senior vice president now owns 48,913 shares in the company, valued at $5,416,625.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total value of $885,920.00. Following the completion of the transaction, the chief financial officer now owns 110,493 shares in the company, valued at approximately $12,235,994.82. The disclosure for this sale can be found here. Insiders sold 21,805 shares of company stock worth $2,440,331 in the last quarter. 1.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Garrison Financial Corp lifted its stake in shares of CoreSite Realty Corporation by 0.8% during the second quarter. Garrison Financial Corp now owns 3,115 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 25 shares in the last quarter. Sei Investments Co. lifted its stake in shares of CoreSite Realty Corporation by 0.3% during the second quarter. Sei Investments Co. now owns 8,515 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 28 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of CoreSite Realty Corporation by 0.6% during the second quarter. Profund Advisors LLC now owns 7,163 shares of the real estate investment trust’s stock worth $742,000 after purchasing an additional 45 shares in the last quarter. LS Investment Advisors LLC lifted its stake in shares of CoreSite Realty Corporation 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 purchasing an additional 56 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of CoreSite Realty Corporation 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 purchasing an additional 75 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

About CoreSite Realty Corporation

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.

Analyst Recommendations for CoreSite Realty Corporation (NYSE:COR)

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