CoreSite Realty (COR) Rating Lowered to Underweight at JPMorgan Chase & Co.

CoreSite Realty (NYSE:COR) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Monday, The Fly reports.

Other research analysts also recently issued research reports about the company. Cowen reissued a “hold” rating and issued a $106.00 price target on shares of CoreSite Realty in a report on Sunday. Jefferies Financial Group reissued a “hold” rating and issued a $100.00 price target on shares of CoreSite Realty in a report on Friday. Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of CoreSite Realty in a report on Thursday. Zacks Investment Research downgraded CoreSite Realty from a “buy” rating to a “hold” rating in a report on Friday. Finally, Credit Suisse Group set a $111.00 price target on CoreSite Realty and gave the company a “hold” rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $114.23.

Shares of NYSE COR opened at $100.02 on Monday. CoreSite Realty has a 1-year low of $82.64 and a 1-year high of $117.82. The company has a quick ratio of 0.21, a current ratio of 0.15 and a debt-to-equity ratio of 3.38. The stock has a market capitalization of $3.67 billion, a PE ratio of 19.77, a P/E/G ratio of 1.35 and a beta of 0.72.

CoreSite Realty (NYSE:COR) last issued its earnings results on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.26. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The company had revenue of $139.10 million during the quarter, compared to the consensus estimate of $139.89 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that CoreSite Realty will post 5.25 EPS for the current fiscal year.

In other CoreSite Realty news, SVP Steven James Smith sold 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $100.00, for a total transaction of $320,000.00. Following the sale, the senior vice president now owns 44,736 shares in the company, valued at $4,473,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in COR. Capital World Investors acquired a new stake in shares of CoreSite Realty during the 3rd quarter worth approximately $40,010,000. Aviva PLC increased its position in CoreSite Realty by 80.3% in the 3rd quarter. Aviva PLC now owns 720,943 shares of the real estate investment trust’s stock valued at $80,126,000 after acquiring an additional 321,008 shares during the period. Vanguard Group Inc. increased its position in CoreSite Realty by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,337,300 shares of the real estate investment trust’s stock valued at $593,187,000 after acquiring an additional 204,628 shares during the period. Vanguard Group Inc increased its position in CoreSite Realty by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 5,337,300 shares of the real estate investment trust’s stock valued at $593,187,000 after acquiring an additional 204,628 shares during the period. Finally, BlackRock Inc. increased its position in CoreSite Realty by 4.8% in the 3rd quarter. BlackRock Inc. now owns 3,750,416 shares of the real estate investment trust’s stock valued at $416,821,000 after acquiring an additional 173,253 shares during the period. Institutional investors and hedge funds own 96.25% of the company’s stock.

About CoreSite Realty

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world's leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads.

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