CoreSite Realty (NYSE:COR) Downgraded by ValuEngine

ValuEngine lowered shares of CoreSite Realty (NYSE:COR) from a hold rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of CoreSite Realty from a hold rating to a sell rating in a report on Tuesday, October 15th. Wells Fargo & Co boosted their price objective on CoreSite Realty from $105.00 to $120.00 and gave the stock a market perform rating in a research note on Friday, November 1st. Raymond James upped their price objective on CoreSite Realty from $110.00 to $128.00 and gave the company an outperform rating in a research report on Friday, November 1st. Finally, Guggenheim set a $119.00 price objective on CoreSite Realty and gave the company a hold rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $112.20.

Shares of COR opened at $113.03 on Tuesday. The stock has a market capitalization of $4.27 billion, a PE ratio of 22.41, a P/E/G ratio of 1.70 and a beta of 0.42. The company’s fifty day moving average is $116.46 and its 200 day moving average is $115.77. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.16 and a current ratio of 0.16. CoreSite Realty has a fifty-two week low of $82.64 and a fifty-two week high of $123.68.

CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.25 by ($0.78). CoreSite Realty had a net margin of 13.48% and a return on equity of 26.30%. The business had revenue of $144.90 million for the quarter, compared to the consensus estimate of $145.19 million. During the same quarter last year, the business earned $1.25 EPS. CoreSite Realty’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that CoreSite Realty will post 5.12 earnings per share for the current year.

In other news, CEO Paul E. Szurek sold 3,590 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $110.26, for a total value of $395,833.40. Following the sale, the chief executive officer now directly owns 174,714 shares in the company, valued at $19,263,965.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Brian Warren sold 10,931 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $118.59, for a total value of $1,296,307.29. Following the completion of the sale, the senior vice president now owns 26,945 shares in the company, valued at $3,195,407.55. The disclosure for this sale can be found here. Insiders sold a total of 15,435 shares of company stock worth $1,801,677 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of COR. Knuff & Co LLC purchased a new stake in CoreSite Realty in the third quarter worth $31,000. NEXT Financial Group Inc bought a new position in shares of CoreSite Realty in the third quarter worth about $36,000. Steward Partners Investment Advisory LLC bought a new position in shares of CoreSite Realty in the second quarter worth about $51,000. Usca Ria LLC purchased a new position in CoreSite Realty in the 3rd quarter worth about $61,000. Finally, Quest Capital Management Inc. ADV purchased a new position in CoreSite Realty in the 3rd quarter worth about $65,000. Institutional investors own 93.50% of the company’s stock.

CoreSite Realty Company Profile

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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Analyst Recommendations for CoreSite Realty (NYSE:COR)

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