Mitsubishi UFJ Financial Group Initiates Coverage on CoreSite Realty (COR)
Equities researchers at Mitsubishi UFJ Financial Group initiated coverage on shares of CoreSite Realty (NYSE:COR) in a research note issued on Wednesday. The brokerage set an “overweight” rating and a $124.00 price target on the real estate investment trust’s stock. Mitsubishi UFJ Financial Group’s price target would suggest a potential upside of 9.97% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. SunTrust Banks reissued a “buy” rating and set a $133.00 target price on shares of CoreSite Realty in a research note on Thursday, December 7th. ValuEngine lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Credit Suisse Group set a $111.00 target price on CoreSite Realty and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, Citigroup increased their target price on CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Eight research 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. CoreSite Realty has a consensus rating of “Buy” and an average target price of $110.75.
CoreSite Realty (NYSE COR) opened at $112.76 on Wednesday. CoreSite Realty has a 12 month low of $81.36 and a 12 month high of $120.85. 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 stock has a market capitalization of $5,420.00, a PE ratio of 61.28, a P/E/G ratio of 1.31 and a beta of 0.44.
In other CoreSite Realty news, SVP Derek Mccandless sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the sale, the senior vice president now owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven James Smith sold 7,121 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were 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 in the company, valued at approximately $5,426,484.01. The disclosure for this sale can be found here. Insiders sold a total of 20,121 shares of company stock worth $2,224,720 in the last ninety days. 1.50% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Eagle Asset Management Inc. raised its position in CoreSite Realty by 4.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 66,444 shares of the real estate investment trust’s stock valued at $7,428,000 after purchasing an additional 2,771 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in shares of CoreSite Realty in the 3rd quarter valued at about $630,000. Ranger Global Real Estate Advisors LLC purchased a new position in shares of CoreSite Realty in the 3rd quarter valued at about $8,529,000. Nationwide Fund Advisors increased its holdings in shares of CoreSite Realty by 3.4% in the 2nd quarter. Nationwide Fund Advisors now owns 51,343 shares of the real estate investment trust’s stock valued at $5,316,000 after acquiring an additional 1,704 shares during the last quarter. Finally, American Assets Capital Advisers increased its holdings in shares of CoreSite Realty by 23.0% in the 3rd quarter. American Assets Capital Advisers now owns 117,500 shares of the real estate investment trust’s stock valued at $13,149,000 after acquiring an additional 21,935 shares during the last quarter. 97.74% of the stock is currently owned by institutional investors.
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About CoreSite Realty
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.
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