Robert W. Baird Trims CoreSite Realty (COR) Target Price to $126.00

CoreSite Realty (NYSE:COR) had its price target reduced by research analysts at Robert W. Baird from $129.00 to $126.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price target indicates a potential upside of 29.36% from the company’s current price.

A number of other analysts also recently commented on the stock. Citigroup increased their price objective on shares of CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 27th. Credit Suisse Group set a $111.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a report on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and issued a $133.00 price objective on shares of CoreSite Realty in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, ValuEngine upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $112.75.

CoreSite Realty (NYSE:COR) traded up $1.03 during mid-day trading on Friday, reaching $97.40. 811,924 shares of the company’s stock were exchanged, compared to its average volume of 369,182. The firm has a market cap of $4,680.00, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 1.20 and a beta of 0.33. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29. CoreSite Realty has a 12 month low of $83.82 and a 12 month high of $120.85.

CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. The company had revenue of $125.95 million during the quarter, compared to the consensus estimate of $125.71 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. CoreSite Realty’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. analysts anticipate that CoreSite Realty will post 4.48 earnings per share for the current year.

In other news, SVP Steven James Smith sold 3,151 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $106.52, for a total value of $335,644.52. Following the completion of the sale, the senior vice president now owns 42,915 shares of the company’s stock, valued at approximately $4,571,305.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders bought 150,000 shares of company stock valued at $55,000 and sold 12,533 shares valued at $1,379,689. Corporate insiders own 1.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Zions Bancorporation purchased a new stake in shares of CoreSite Realty in the 3rd quarter valued at approximately $170,000. Intrust Bank NA purchased a new position in shares of CoreSite Realty during the 4th quarter worth approximately $200,000. Park Avenue Securities LLC purchased a new position in shares of CoreSite Realty during the 3rd quarter worth approximately $207,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of CoreSite Realty during the 4th quarter worth approximately $208,000. Finally, FDx Advisors Inc. purchased a new position in shares of CoreSite Realty during the 3rd quarter worth approximately $209,000. 97.99% of the stock is owned by institutional investors and hedge funds.

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About CoreSite Realty

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.

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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