CoreSite Realty (COR) Coverage Initiated at Mitsubishi UFJ Financial Group
Investment analysts at Mitsubishi UFJ Financial Group initiated coverage on shares of CoreSite Realty (NYSE:COR) in a research note issued to investors on Wednesday. The brokerage set an “overweight” rating and a $124.00 price target on the real estate investment trust’s stock. Mitsubishi UFJ Financial Group’s target price indicates a potential upside of 9.97% from the stock’s previous close.
COR has been the topic of a number of other reports. ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of CoreSite Realty in a research note on Thursday, October 12th. Zacks Investment Research raised CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Wednesday, September 27th. SunTrust Banks reaffirmed a “buy” rating and set a $121.00 price objective on shares of CoreSite Realty in a research note on Friday, November 17th. Finally, Cowen reaffirmed a “buy” rating and set a $111.00 price objective on shares of CoreSite Realty in a research note on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $110.75.
Shares of CoreSite Realty (NYSE COR) opened at $112.76 on Wednesday. CoreSite Realty has a 12-month low of $81.36 and a 12-month high of $120.85. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $5,420.00, a PE ratio of 61.28, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44.
CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The firm had revenue of $123.07 million for the quarter, compared to analysts’ expectations of $121.27 million. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. equities research analysts forecast that CoreSite Realty will post 4.48 EPS for the current fiscal year.
In other news, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total transaction of $875,120.00. Following the completion of the transaction, 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 the SEC website. Also, SVP Derek Mccandless sold 5,000 shares of CoreSite Realty stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total transaction of $546,850.00. Following the transaction, the senior vice president now owns 36,613 shares of the company’s stock, valued at $4,004,363.81. The disclosure for this sale can be found here. Insiders sold 20,121 shares of company stock valued at $2,224,720 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in COR. Capstone Asset Management Company lifted its holdings in shares of CoreSite Realty by 0.4% during the fourth quarter. Capstone Asset Management Company now owns 12,133 shares of the real estate investment trust’s stock valued at $688,000 after purchasing an additional 50 shares during the last quarter. Capital Fund Management S.A. purchased a new position in CoreSite Realty in the 4th quarter worth approximately $1,116,000. Strs Ohio raised its holdings in CoreSite Realty by 34.2% in the 4th quarter. Strs Ohio now owns 56,148 shares of the real estate investment trust’s stock worth $3,184,000 after acquiring an additional 14,319 shares during the last quarter. Nationwide Fund Advisors raised its holdings in CoreSite Realty by 29.8% in the 4th quarter. Nationwide Fund Advisors now owns 87,038 shares of the real estate investment trust’s stock worth $4,937,000 after acquiring an additional 19,973 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in CoreSite Realty by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 45,136 shares of the real estate investment trust’s stock worth $2,560,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.
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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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