Coresite Realty Gets a Buy Rating from SunTrust Robinson

By Ryan Adsit

In a report released yesterday, Gregory Miller from SunTrust Robinson reiterated a Buy rating on Coresite Realty (NYSE: COR), with a price target of $133. The company’s shares opened today at $112.41.

According to TipRanks.com, Miller is a 5-star analyst with an average return of 10.2% and a 67.9% success rate. Miller covers the Technology sector, focusing on stocks such as Interxion Holding NV, Zayo Group Holdings, and magicJack VocalTec.

Coresite Realty has an analyst consensus of Moderate Buy, with a price target consensus of $117.86.

Based on Coresite Realty’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $123 million and quarterly net profit of $17.84 million. In comparison, last year the company earned revenue of $101 million and had a net profit of $14.26 million.

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CoreSite Realty Corp. is a real estate investment trust, which engages in the business of data center ownership, acquisition, construction, and operation. Its data center comprises of house networking, storage, and communications technology infrastructure, including servers, storage devices, switches routers, and fabric optic transmission equipment.