CoreSite Realty Corp (COR) is Downgraded by Stifel to Sell, Price Target at $79

CoreSite Realty Corp (COR) was Downgraded by Stifel to ” Sell” and the brokerage firm has set the Price Target at $79. Earlier the firm had a rating of “Hold ” on the company shares. Stifel advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on CoreSite Realty Corp. Stifel Downgraded CoreSite Realty Corp on Jul 11, 2016 to ” Sell”, Price Target of the shares are set at $79.Canaccord Genuity Initiated CoreSite Realty Corp on Jun 7, 2016 to “Buy”, Price Target of the shares are set at $92.

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 $90.03 and hit $91.91 on the upside on Friday, eventually ending the session at $91.49, with a gain of 1.75% or 1.57 points. The heightened volatility saw the trading volume jump to 5,69,437 shares. Company has a market cap of $2,828 M.

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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CoreSite Realty Corp - Is it time to Sell?

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