CoreSite Realty (NYSE:COR) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, December 11th, ValuEngine reports.
A number of other brokerages have also recently issued reports on COR. Raymond James increased their target price on CoreSite Realty from $110.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Co boosted their target price on shares of CoreSite Realty from $105.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Guggenheim set a $119.00 target price on shares of CoreSite Realty and gave the stock a “hold” rating in a report on Thursday, September 12th. Finally, Zacks Investment Research downgraded CoreSite Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $112.20.
Shares of NYSE:COR opened at $113.24 on Wednesday. CoreSite Realty has a fifty-two week low of $82.64 and a fifty-two week high of $123.68. The business has a 50-day moving average of $113.86 and a two-hundred day moving average of $115.33. The stock has a market capitalization of $4.28 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.70 and a beta of 0.42. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.16 and a quick ratio of 0.16.
CoreSite Realty (NYSE:COR) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.78). CoreSite Realty had a net margin of 13.48% and a return on equity of 26.30%. The business had revenue of $144.90 million for the quarter, compared to the consensus estimate of $145.19 million. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts expect that CoreSite Realty will post 5.11 EPS for the current fiscal year.
In other news, SVP Maile Kaiser sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $111.44, for a total transaction of $245,168.00. Following the completion of the sale, the senior vice president now owns 12,945 shares in the company, valued at approximately $1,442,590.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark R. Jones sold 750 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $120.30, for a total value of $90,225.00. Following the transaction, the chief accounting officer now directly owns 13,882 shares of the company’s stock, valued at $1,670,004.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,045 shares of company stock valued at $1,651,011. 1.20% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of CoreSite Realty by 1.6% during the second quarter. Arizona State Retirement System now owns 26,780 shares of the real estate investment trust’s stock valued at $3,084,000 after buying an additional 421 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of CoreSite Realty during the 2nd quarter valued at $51,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of CoreSite Realty by 86.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 41,912 shares of the real estate investment trust’s stock valued at $4,827,000 after purchasing an additional 19,424 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of CoreSite Realty by 20.2% in the second quarter. SG Americas Securities LLC now owns 16,403 shares of the real estate investment trust’s stock worth $1,889,000 after purchasing an additional 2,755 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of CoreSite Realty in the second quarter worth $1,807,000. 93.48% of the stock is owned by hedge funds and other institutional investors.
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.
Read More: What is Cost of Goods Sold (COGS)?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for CoreSite Realty Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for CoreSite Realty and related companies with MarketBeat.com’s FREE daily email newsletter.