CoreSite Realty (COR) Given Buy Rating at SunTrust Banks
CoreSite Realty (NYSE:COR)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks in a research report issued to clients and investors on Thursday. They currently have a $133.00 target price on the real estate investment trust’s stock. SunTrust Banks’ price target suggests a potential upside of 18.63% from the stock’s current price.
Other equities analysts also recently issued reports about the company. BidaskClub upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Citigroup boosted their price objective on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Credit Suisse Group set a $111.00 price objective on CoreSite Realty and gave the company a “hold” rating in a research report on Friday, October 27th. ValuEngine upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, KeyCorp restated a “hold” rating on shares of CoreSite Realty in a research report on Tuesday, September 12th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $109.55.
CoreSite Realty (NYSE COR) traded up $0.76 during trading hours on Thursday, reaching $112.11. The company’s stock had a trading volume of 307,600 shares, compared to its average volume of 425,603. CoreSite Realty has a twelve month low of $71.30 and a twelve month high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $3,812.79, a price-to-earnings ratio of 25.36, a PEG ratio of 1.46 and a beta of 0.44.
In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the sale, the chief financial officer now directly owns 98,562 shares in the company, valued at $10,781,697.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the completion of the sale, the senior vice president now owns 36,613 shares in the company, valued at $4,004,363.81. The disclosure for this sale can be found here. Insiders sold 16,805 shares of company stock worth $1,868,981 over the last quarter. 1.50% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of COR. Fisher Asset Management LLC purchased a new stake in shares of CoreSite Realty in the third quarter worth about $32,098,000. Goldman Sachs Group Inc. lifted its position in shares of CoreSite Realty by 53.3% in the second quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock worth $52,529,000 after buying an additional 176,489 shares in the last quarter. Principal Financial Group Inc. raised its position in CoreSite Realty by 44.9% during the second quarter. Principal Financial Group Inc. now owns 536,724 shares of the real estate investment trust’s stock valued at $55,567,000 after purchasing an additional 166,193 shares during the period. Payden & Rygel raised its position in CoreSite Realty by 3,343.6% during the third quarter. Payden & Rygel now owns 134,300 shares of the real estate investment trust’s stock valued at $15,028,000 after purchasing an additional 130,400 shares during the period. Finally, Renaissance Technologies LLC raised its position in CoreSite Realty by 45.6% during the second quarter. Renaissance Technologies LLC now owns 358,900 shares of the real estate investment trust’s stock valued at $37,157,000 after purchasing an additional 112,400 shares during the period. Institutional investors own 98.91% of the company’s stock.
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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