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.
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.
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.
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