Coresite Realty Gets a Buy Rating from Cowen & Co.

By Austin Angelo

Cowen & Co. analyst Colby Synesael reiterated a Buy rating on Coresite Realty (NYSE: COR) yesterday and set a price target of $115. The company’s shares opened today at $113.03.

According to TipRanks.com, Synesael is a 5-star analyst with an average return of 17.5% and a 81.8% success rate. Synesael covers the Technology sector, focusing on stocks such as Interxion Holding NV, Zayo Group Holdings, and Crown Castle.

Currently, the analyst consensus on Coresite Realty is a Moderate Buy with an average price target of $118.29, representing a 4.7% upside. In a report issued on July 17, Jefferies also reiterated a Buy rating on the stock with a $131 price target.

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Based on Coresite Realty’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $20.3 million. In comparison, last year the company had a net profit of $17.73 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock.

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CoreSite Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, construction and operation of strategically located data centers. The firm also offers collocation and interconnection solutions for networks, cloud services, and industry solutions. The company was founded in 2001 and is headquartered in Denver, CO.