CoreSite Realty Corporation (COR) Downgraded by Zacks Investment Research
CoreSite Realty Corporation (NYSE:COR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Coresite Realty Corporation provides data center products and interconnection services. The data centers include ample and redundant power and advanced cooling and security systems, and many are points of dense network interconnection. The company’s data centers are located in Los Angeles, the San Francisco Bay and northern Virginia areas, Chicago, Boston, New York City, and Miami. It serves telecommunications carriers, content and media entertainment providers, cloud providers, enterprise customers, financial and educational institutions, and government agencies. CoreSite Realty Corporation is headquartered in Denver, Colorado. “
A number of other research analysts have also weighed in on COR. Jefferies Group LLC reissued a “buy” rating and issued a $117.00 target price on shares of CoreSite Realty Corporation in a report on Friday, July 14th. Royal Bank Of Canada reissued a “buy” rating on shares of CoreSite Realty Corporation in a report on Tuesday, July 18th. BidaskClub raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. KeyCorp reissued a “hold” rating on shares of CoreSite Realty Corporation in a report on Tuesday, September 12th. Finally, William Blair initiated coverage on shares of CoreSite Realty Corporation in a report on Friday, September 22nd. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $107.20.
CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.64). CoreSite Realty Corporation had a net margin of 15.21% and a return on equity of 15.35%. The company had revenue of $123.07 million for the quarter, compared to analysts’ expectations of $121.27 million. During the same period last year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year.
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In other CoreSite Realty Corporation news, CEO Paul E. Szurek sold 3,805 shares of CoreSite Realty Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total transaction of $447,011.40. Following the completion of the transaction, the chief executive officer now directly owns 93,405 shares of the company’s stock, valued at $10,973,219.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in CoreSite Realty Corporation by 3.7% during the first quarter. Vanguard Group Inc. now owns 5,510,182 shares of the real estate investment trust’s stock worth $496,191,000 after buying an additional 198,067 shares during the period. BlackRock Inc. boosted its stake in CoreSite Realty Corporation by 143,427.7% during the first quarter. BlackRock Inc. now owns 4,401,994 shares of the real estate investment trust’s stock worth $396,400,000 after buying an additional 4,398,927 shares during the period. BlackRock Fund Advisors boosted its stake in CoreSite Realty Corporation by 24.8% during the third quarter. BlackRock Fund Advisors now owns 2,493,902 shares of the real estate investment trust’s stock worth $184,649,000 after buying an additional 495,591 shares during the period. Wells Fargo & Company MN boosted its stake in CoreSite Realty Corporation by 2.9% during the second quarter. Wells Fargo & Company MN now owns 1,632,276 shares of the real estate investment trust’s stock worth $168,990,000 after buying an additional 45,502 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in CoreSite Realty Corporation by 8.8% during the third quarter. BlackRock Institutional Trust Company N.A. now owns 996,027 shares of the real estate investment trust’s stock worth $73,746,000 after buying an additional 80,264 shares during the period. 98.29% of the stock is owned by institutional investors.
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.
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