Royal Bank of Canada Reaffirms Outperform Rating for CoreSite Realty (COR)

CoreSite Realty (NYSE:COR)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Monday, The Fly reports. They presently have a $113.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 16.02% from the company’s previous close.

A number of other research firms have also issued reports on COR. ValuEngine raised shares of CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. SunTrust Banks reissued a “buy” rating and set a $121.00 price target on shares of CoreSite Realty in a research report on Friday, November 17th. Cowen reissued a “buy” rating and set a $111.00 price target on shares of CoreSite Realty in a research report on Thursday, October 19th. Mitsubishi UFJ Financial Group assumed coverage on shares of CoreSite Realty in a research report on Wednesday, January 10th. They set an “overweight” rating and a $124.00 price target for the company. Finally, Zacks Investment Research lowered shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. 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. The stock presently has a consensus rating of “Buy” and an average price target of $113.00.

CoreSite Realty (NYSE COR) remained flat at $$97.40 during mid-day trading on Monday. The company had a trading volume of 713,355 shares, compared to its average volume of 387,646. The company has a market capitalization of $4,680.00, a price-to-earnings ratio of 52.93, a PEG ratio of 1.15 and a beta of 0.33. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.29 and a current ratio of 0.27. CoreSite Realty has a 12 month low of $83.82 and a 12 month high of $120.85.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings results 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. CoreSite Realty had a net margin of 15.54% and a return on equity of 16.77%. The company had revenue of $125.95 million during the quarter, compared to analyst estimates of $125.71 million. During the same period last year, the firm posted $1.06 EPS. CoreSite Realty’s revenue for the quarter was up 14.0% compared to the same quarter last year. sell-side analysts predict that CoreSite Realty will post 5 EPS for the current year.

In other news, SVP Steven James Smith sold 7,121 shares of CoreSite Realty stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $112.73, for a total transaction of $802,750.33. Following the completion of the transaction, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at approximately $5,426,484.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 150,000 shares of company stock valued at $55,000 and have sold 12,533 shares valued at $1,379,689. 1.50% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Zions Bancorporation purchased a new position in shares of CoreSite Realty during the 3rd quarter valued at approximately $170,000. Intrust Bank NA purchased a new position in shares of CoreSite Realty during the 4th quarter valued at approximately $200,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of CoreSite Realty during the 4th quarter valued at approximately $208,000. Park Avenue Securities LLC purchased a new stake in CoreSite Realty in the 3rd quarter worth $207,000. Finally, FDx Advisors Inc. purchased a new stake in CoreSite Realty in the 3rd quarter worth $209,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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