Raymond James Increases CoreSite Realty (NYSE:COR) Price Target to $128.00

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CoreSite Realty (NYSE:COR) had its price target lifted by analysts at Raymond James from $110.00 to $128.00 in a report released on Friday, November 1st, The Fly reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ target price points to a potential upside of 12.65% from the company’s current price.

COR has been the topic of several other reports. Stifel Nicolaus set a $110.00 price target on shares of CoreSite Realty and gave the stock a “hold” rating in a research note on Friday, July 26th. Credit Suisse Group decreased their price target on shares of CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Wells Fargo & Co increased their price objective on shares of CoreSite Realty from $105.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Guggenheim set a $119.00 price objective on shares of CoreSite Realty and gave the stock a “hold” rating in a report on Thursday, September 12th. Finally, Zacks Investment Research lowered shares of CoreSite Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. CoreSite Realty has an average rating of “Hold” and a consensus target price of $112.20.

NYSE COR traded down $0.18 during trading hours on Friday, reaching $113.63. The company’s stock had a trading volume of 538,923 shares, compared to its average volume of 287,363. The stock has a market cap of $4.38 billion, a PE ratio of 22.46, a PEG ratio of 1.74 and a beta of 0.45. CoreSite Realty has a fifty-two week low of $82.64 and a fifty-two week high of $123.68. The company’s 50-day moving average is $119.42 and its two-hundred day moving average is $115.54. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.18 and a current ratio of 0.16.

CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.25 by ($0.78). CoreSite Realty had a return on equity of 26.30% and a net margin of 13.48%. The firm had revenue of $144.90 million for the quarter, compared to analyst estimates of $145.19 million. During the same period in the prior year, the business earned $1.25 earnings per share. CoreSite Realty’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts expect that CoreSite Realty will post 5.11 earnings per share for the current fiscal year.

In related news, SVP Brian Warren sold 10,931 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $118.59, for a total value of $1,296,307.29. Following the transaction, the senior vice president now owns 26,945 shares in the company, valued at $3,195,407.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul E. Szurek sold 3,590 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $110.26, for a total transaction of $395,833.40. Following the completion of the transaction, the chief executive officer now owns 174,714 shares in the company, valued at approximately $19,263,965.64. The disclosure for this sale can be found here. Insiders sold 15,435 shares of company stock worth $1,801,677 in the last 90 days. 1.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Knuff & Co LLC purchased a new stake in shares of CoreSite Realty during the third quarter valued at approximately $31,000. NEXT Financial Group Inc purchased a new stake in shares of CoreSite Realty during the third quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of CoreSite Realty during the second quarter valued at approximately $51,000. Usca Ria LLC purchased a new stake in shares of CoreSite Realty during the third quarter valued at approximately $61,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in shares of CoreSite Realty during the third quarter valued at approximately $65,000. Institutional investors own 93.00% 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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