Stock analysts at Mitsubishi UFJ Financial Group assumed coverage on shares of CoreSite Realty (NYSE:COR) in a report released on Wednesday. The firm set an “overweight” rating and a $124.00 price target on the real estate investment trust’s stock. Mitsubishi UFJ Financial Group’s price objective indicates a potential upside of 9.97% from the company’s current price.
A number of other brokerages also recently issued reports on COR. ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of CoreSite Realty in a report on Tuesday, September 12th. SunTrust Banks reissued a “buy” rating and issued a $121.00 price target on shares of CoreSite Realty in a report on Friday, November 17th. Cowen reissued a “buy” rating and issued a $111.00 price target on shares of CoreSite Realty in a report on Thursday, October 19th. Finally, Zacks Investment Research downgraded CoreSite Realty from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Eight 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.75.
CoreSite Realty (NYSE:COR) opened at $112.76 on Wednesday. CoreSite Realty has a twelve month low of $81.36 and a twelve month high of $120.85. The stock has a market capitalization of $5,420.00, a P/E ratio of 61.28, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.29.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The company had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. equities research analysts predict that CoreSite Realty will post 4.48 EPS for the current fiscal year.
In other news, SVP Derek Mccandless sold 5,000 shares of the company’s stock in a transaction 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 approximately $4,004,363.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the transaction, the chief financial officer now directly owns 98,562 shares in the company, valued at approximately $10,781,697.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,121 shares of company stock valued at $2,224,720. 1.50% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Profund Advisors LLC lifted its stake in shares of CoreSite Realty by 0.6% in the 2nd quarter. Profund Advisors LLC now owns 7,163 shares of the real estate investment trust’s stock valued at $742,000 after purchasing an additional 45 shares during the last quarter. Pinebridge Investments L.P. lifted its stake in shares of CoreSite Realty by 1.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,505 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 80 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of CoreSite Realty by 2.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,282 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 104 shares during the last quarter. Global Endowment Management LP lifted its stake in shares of CoreSite Realty by 1.3% in the 2nd quarter. Global Endowment Management LP now owns 31,990 shares of the real estate investment trust’s stock valued at $3,312,000 after purchasing an additional 410 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of CoreSite Realty by 1.4% in the 3rd quarter. Whittier Trust Co. now owns 38,953 shares of the real estate investment trust’s stock valued at $4,359,000 after purchasing an additional 551 shares during the last quarter. 97.74% of the stock is currently owned by institutional investors and hedge funds.
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CoreSite Realty 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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