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.
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.
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