Canaccord Genuity Initiates Coverage on CoreSite Realty Corp to Buy

Canaccord Genuity Initiates Coverage on CoreSite Realty Corp(NYSE:COR). The shares have been rated Buy. The rating by Canaccord Genuity was issued on Jun 7, 2016.

In a different note, On Apr 29, 2016, Stephens & Co. said it Downgrades its rating on CoreSite Realty Corp. The shares have been rated ‘Equal-weight’ by the firm.

CoreSite Realty Corp (COR) shares turned negative on Fridays trading session with the shares closing down -0.08 points or -0.10% at a volume of 3,28,078. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $83.5. The peak price level was also seen at $83.5 while the days lowest was $82.73. Finally the shares closed at $83.1. The 52-week high of the shares is $83.59 while the 52-week low is $44.51. According to the latest information available, the market cap of the company is $2,569 M.

CoreSite Realty Corp has also declared a cash dividend of $0.5300 on May 20, 2016. The shares will quote ex-dividend on Jun 28, 2016 and the record date has been fixed on Jun 30, 2016. The dividend payable date has been fixed on Jul 15, 2016.

CoreSite Realty Corp(COR) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $92.48M. Analysts had an estimated revenue of $93.99M. Earnings per share were $0.86. Analysts had estimated an EPS of $0.83.

Several Insider Transactions has been reported to the SEC. On May 17, 2016, Peter D Staple (CEO) purchased 12,500 shares at $3.60 per share price.Also, 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.

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