Citigroup Reiterates $104.00 Price Target for CoreSite Realty (COR)

CoreSite Realty (NYSE:COR) has been given a $104.00 target price by research analysts at Citigroup in a report released on Monday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Citigroup’s target price would suggest a potential upside of 8.13% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised CoreSite Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. TheStreet cut CoreSite Realty from a “b-” rating to a “c” rating in a research note on Thursday, October 25th. BMO Capital Markets decreased their target price on CoreSite Realty from $111.00 to $107.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. Royal Bank of Canada cut CoreSite Realty from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 26th. Finally, Cowen cut CoreSite Realty from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $115.00 to $107.00 in a research note on Monday, September 24th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. CoreSite Realty presently has a consensus rating of “Buy” and a consensus price target of $119.15.

NYSE COR traded up $0.90 during trading hours on Monday, hitting $96.18. 65,066 shares of the company’s stock were exchanged, compared to its average volume of 490,305. CoreSite Realty has a 1-year low of $88.37 and a 1-year high of $119.59. The stock has a market capitalization of $3.50 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.21 and a beta of 0.55. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.21 and a quick ratio of 0.21.

CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, October 25th. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.72). CoreSite Realty had a return on equity of 20.18% and a net margin of 14.91%. The business had revenue of $139.18 million for the quarter, compared to analyst estimates of $138.10 million. Equities analysts expect that CoreSite Realty will post 5.05 earnings per share for the current year.

In other news, CEO Paul E. Szurek sold 3,588 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $114.15, for a total value of $409,570.20. Following the transaction, the chief executive officer now owns 147,075 shares in the company, valued at $16,788,611.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian Warren sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $115.11, for a total value of $1,151,100.00. Following the completion of the transaction, the senior vice president now owns 26,623 shares in the company, valued at approximately $3,064,573.53. The disclosure for this sale can be found here. Insiders sold 13,750 shares of company stock worth $1,578,297 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of CoreSite Realty by 6.9% in the second quarter. BlackRock Inc. now owns 3,577,163 shares of the real estate investment trust’s stock valued at $396,420,000 after purchasing an additional 231,701 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in CoreSite Realty by 2.9% during the second quarter. Wells Fargo & Company MN now owns 1,715,414 shares of the real estate investment trust’s stock worth $190,104,000 after acquiring an additional 47,623 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CoreSite Realty by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 524,499 shares of the real estate investment trust’s stock worth $58,125,000 after acquiring an additional 4,662 shares during the period. Bank of New York Mellon Corp lifted its holdings in CoreSite Realty by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 402,677 shares of the real estate investment trust’s stock worth $44,624,000 after acquiring an additional 5,499 shares during the period. Finally, Aviva PLC lifted its holdings in CoreSite Realty by 83.8% during the second quarter. Aviva PLC now owns 399,935 shares of the real estate investment trust’s stock worth $44,321,000 after acquiring an additional 182,321 shares during the period. Institutional investors own 90.78% 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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Analyst Recommendations for CoreSite Realty (NYSE:COR)

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