CoreSite Realty Corp. Lowered to Hold at Jefferies Group (COR)
CoreSite Realty Corp. (NYSE:COR) was downgraded by investment analysts at Jefferies Group from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $36.00 target price on the stock. Jefferies Group’s price target would indicate a potential upside of 4.74% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Merrill Lynch downgraded shares of CoreSite Realty Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 16th. Separately, analysts at Bank of America Corp. downgraded shares of CoreSite Realty Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 16th. They now have a $38.00 price target on the stock. Finally, analysts at Stephens initiated coverage on shares of CoreSite Realty Corp. in a research note to investors on Thursday, September 12th. They set an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. CoreSite Realty Corp. has a consensus rating of “Hold” and an average target price of $37.36.
CoreSite Realty Corp. (NYSE:COR) traded down 1.34% during mid-day trading on Tuesday, hitting $33.91. The stock had a trading volume of 120,635 shares. CoreSite Realty Corp. has a 52 week low of $20.50 and a 52 week high of $38.57. The stock’s 50-day moving average is $33.29 and its 200-day moving average is $33.59. The company has a market cap of $706.2 million and a P/E ratio of 95.47.
CoreSite Realty Corp. (NYSE:COR) last announced its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.02. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $58.08 million. During the same quarter last year, the company posted $0.37 earnings per share. CoreSite Realty Corp.’s revenue was up 14.0% compared to the same quarter last year. Analysts expect that CoreSite Realty Corp. will post $1.82 EPS for the current fiscal year.
CoreSite Realty Corporation is an owner, developer and operator of strategically located data centers in some of the growing data center markets in the United States, including Los Angeles, the San Francisco Bay and Northern Virginia areas, Chicago and New York City.
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