CoreSite Realty Corp (COR) is Initiated by Canaccord Genuity to Buy, Price Target at $92

CoreSite Realty Corp (COR) was Initiated by Canaccord Genuity to “Buy” and the brokerage firm has set the Price Target at $92. Canaccord Genuity advised their investors in a research report released on Jun 7, 2016.

On the company’s financial health, CoreSite Realty Corp reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.82. The company had revenue of $92.48 million for the quarter, compared to analysts expectations of $93.53 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

CoreSite Realty Corp opened for trading at $77.64 and hit $78.5 on the upside on Friday, eventually ending the session at $78.45, with a gain of 1.57% or 1.21 points. The heightened volatility saw the trading volume jump to 4,55,315 shares. Company has a market cap of $2,425 M.

Investors should note that on May 20, 2016, CoreSite Realty Corp announced a cash dividend of $0.5300. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 15, 2016.

In a different news, on May 17, 2016, Peter D Staple (CEO) purchased 12,500 shares at $3.60 per share price. According to the SEC, on May 4, 2016, Derek Mccandless (SVP, Legal and General Counsel) sold 10,000 shares at $75.47 per share price. On May 4, 2016, Jeffrey S Finnin (CFO and Treasurer) sold 4,000 shares at $75.75 per share price, according to the Form-4 filing with the securities and exchange commission.

CoreSite Realty Corporation (CoreSite) is an integrated self-administered and self-managed real estate investment trust (REIT). CoreSite L.P. (Operating Partnership) is a limited partnership of which the Company is the sole general partner. Through its controlling interest in CoreSite L.P. the Company is engaged in the business of ownership acquisition construction and management of data centers across a range of markets in the United States including the New York; Northern Virginia which include Washington D.C.; San Francisco Bay areas; Los Angeles; Chicago; Boston; Miami and Denver. The Company offers its solutions to approximately 800 enterprises network operators cloud providers and supporting service providers. The Company’s property portfolio includes approximately 16 operating data center facilities development projects space and land held for development which collectively consists of approximately 2.7 million net rentable square feet.

CoreSite Realty Corp

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