CoreSite Realty (NYSE:COR) Downgraded by Bank of America

Bank of America lowered shares of CoreSite Realty (NYSE:COR) from a neutral rating to an underperform rating in a research note released on Tuesday, Benzinga reports. Bank of America currently has $100.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $130.00.

Several other brokerages also recently commented on COR. Raymond James increased their price objective on shares of CoreSite Realty from $110.00 to $128.00 and gave the company an outperform rating in a research note on Friday, November 1st. ValuEngine raised shares of CoreSite Realty from a sell rating to a hold rating in a research note on Monday, February 10th. Zacks Investment Research raised shares of CoreSite Realty from a sell rating to a hold rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on shares of CoreSite Realty from to in a research note on Thursday, January 23rd. Finally, Wells Fargo & Co dropped their price objective on shares of CoreSite Realty from $120.00 to $115.00 and set an equal weight rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. CoreSite Realty has a consensus rating of Hold and an average price target of $113.44.

NYSE COR opened at $115.15 on Tuesday. The company has a current ratio of 0.13, a quick ratio of 0.16 and a debt-to-equity ratio of 6.91. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.68 and a beta of 0.48. The firm’s 50 day simple moving average is $114.67 and its 200 day simple moving average is $114.91. CoreSite Realty has a 1 year low of $99.94 and a 1 year high of $123.68.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.80). The firm had revenue of $146.00 million for the quarter, compared to analyst estimates of $148.17 million. CoreSite Realty had a return on equity of 29.18% and a net margin of 13.24%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities research analysts forecast that CoreSite Realty will post 5.16 earnings per share for the current year.

In related news, SVP Maile Kaiser sold 2,200 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $111.44, for a total value of $245,168.00. Following the completion of the transaction, the senior vice president now owns 12,945 shares of the company’s stock, valued at approximately $1,442,590.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of COR. BB&T Corp raised its stake in shares of CoreSite Realty by 2.6% during the third quarter. BB&T Corp now owns 3,485 shares of the real estate investment trust’s stock valued at $424,000 after acquiring an additional 88 shares during the last quarter. Brookstone Capital Management raised its stake in shares of CoreSite Realty by 2.0% during the fourth quarter. Brookstone Capital Management now owns 4,766 shares of the real estate investment trust’s stock valued at $534,000 after acquiring an additional 92 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of CoreSite Realty by 3.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 3,455 shares of the real estate investment trust’s stock valued at $387,000 after acquiring an additional 100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of CoreSite Realty by 2.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,647 shares of the real estate investment trust’s stock valued at $745,000 after acquiring an additional 152 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of CoreSite Realty by 2.5% during the third quarter. Janney Montgomery Scott LLC now owns 6,726 shares of the real estate investment trust’s stock valued at $820,000 after acquiring an additional 163 shares during the last quarter. 94.61% of the stock is owned by institutional investors and hedge funds.

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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