CoreSite Realty (NYSE:COR) received a $111.00 price target from equities research analysts at Credit Suisse Group in a report issued on Wednesday. The firm currently has a “hold” rating on the real estate investment trust’s stock. Credit Suisse Group’s target price suggests a potential upside of 3.45% from the company’s current price.

The analysts wrote, “We generally view CoreSite as a very well executed company in the data center space but remain on the sidelines for two main reasons: 1) Valuation and trading multiples remain above peers in an increasingly competitive data center market; 2) Beyond CoreSite’s data center expansions into Reston, VA, we have little visibility into the other strategies the company might be pursuing.””

Several other research analysts have also recently weighed in on COR. JPMorgan Chase & Co. assumed coverage on CoreSite Realty in a research report on Monday, September 25th. They set a “neutral” rating and a $118.00 price objective for the company. Zacks Investment Research raised CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Wednesday, September 27th. Mitsubishi UFJ Financial Group assumed coverage on CoreSite Realty in a research report on Wednesday, January 10th. They set an “overweight” rating and a $124.00 price objective for the company. William Blair assumed coverage on CoreSite Realty in a research report on Friday, September 22nd. They set an “outperform” rating for the company. Finally, KeyCorp reaffirmed 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $110.75.

CoreSite Realty (COR) opened at $107.30 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $3,618.30, a PE ratio of 58.32, a PEG ratio of 1.23 and a beta of 0.44. CoreSite Realty has a 52-week low of $83.42 and a 52-week high of $120.85.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.64). The firm had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. research analysts anticipate that CoreSite Realty will post 4.48 EPS for the current fiscal year.

In other news, SVP Steven James Smith sold 7,121 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total value of $802,750.33. Following the completion of the sale, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at $5,426,484.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the sale, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,121 shares of company stock valued at $2,224,720. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of CoreSite Realty by 4.3% in the third quarter. Wells Fargo & Company MN now owns 1,702,550 shares of the real estate investment trust’s stock valued at $190,516,000 after buying an additional 70,274 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of CoreSite Realty by 53.3% in the second quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock valued at $52,529,000 after buying an additional 176,489 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CoreSite Realty by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 499,857 shares of the real estate investment trust’s stock valued at $55,932,000 after buying an additional 22,342 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of CoreSite Realty by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 380,993 shares of the real estate investment trust’s stock valued at $39,445,000 after buying an additional 13,058 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of CoreSite Realty by 45.6% in the second quarter. Renaissance Technologies LLC now owns 358,900 shares of the real estate investment trust’s stock valued at $37,157,000 after buying an additional 112,400 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

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CoreSite Realty Company Profile

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.

Analyst Recommendations for CoreSite Realty (NYSE:COR)

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