CoreSite Realty (COR) Given New $105.00 Price Target at Citigroup

CoreSite Realty (NYSE:COR) had its target price dropped by equities research analysts at Citigroup from $115.00 to $105.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective suggests a potential upside of 7.80% from the company’s previous close.

Other analysts also recently issued reports about the company. Jefferies Group reissued a “buy” rating on shares of CoreSite Realty in a research report on Thursday. SunTrust Banks reissued a “buy” rating and set a $121.00 price objective on shares of CoreSite Realty in a research report on Friday, November 17th. ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Cowen reissued a “buy” rating and set a $111.00 price objective on shares of CoreSite Realty in a research report on Thursday, October 19th. Finally, KeyCorp reissued a “hold” rating on shares of CoreSite Realty in a research report on Thursday, October 12th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $112.75.

Shares of CoreSite Realty (NYSE COR) traded up $1.03 during trading hours on Friday, hitting $97.40. The company had a trading volume of 811,924 shares, compared to its average volume of 369,182. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 2.24. The firm has a market cap of $4,730.00, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 1.13 and a beta of 0.33. CoreSite Realty has a 1 year low of $83.82 and a 1 year high of $120.85.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $125.95 million during the quarter, compared to the consensus estimate of $125.71 million. CoreSite Realty had a return on equity of 16.77% and a net margin of 15.54%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. sell-side analysts expect that CoreSite Realty will post 5 EPS for the current year.

In related news, SVP Steven James Smith sold 3,151 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $106.52, for a total transaction of $335,644.52. Following the completion of the transaction, the senior vice president now directly owns 42,915 shares in the company, valued at approximately $4,571,305.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 150,000 shares of company stock valued at $55,000 and have sold 12,533 shares valued at $1,379,689. Company insiders own 1.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its holdings in CoreSite Realty by 38.7% during the 4th quarter. Suntrust Banks Inc. now owns 20,874 shares of the real estate investment trust’s stock valued at $2,376,000 after acquiring an additional 5,826 shares during the period. Baird Financial Group Inc. purchased a new position in shares of CoreSite Realty in the 4th quarter valued at about $259,000. ARP Americas LP purchased a new position in shares of CoreSite Realty in the 4th quarter valued at about $1,036,000. American International Group Inc. boosted its stake in shares of CoreSite Realty by 1.3% in the 4th quarter. American International Group Inc. now owns 70,833 shares of the real estate investment trust’s stock valued at $8,068,000 after buying an additional 883 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of CoreSite Realty in the 4th quarter valued at about $5,911,000. Institutional investors own 97.99% of the company’s stock.

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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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