Cowen & Co. Remains a Hold on Coresite Realty (COR)

By Jason Carr

In a report issued on October 26, Colby Synesael from Cowen & Co. reiterated a Hold rating on Coresite Realty (NYSE: COR), with a price target of $104. The company’s shares closed on Friday at $92.57, close to its 52-week low of $89.76.

According to TipRanks.com, Synesael is a 5-star analyst with an average return of 15.2% and a 75.3% success rate. Synesael covers the Technology sector, focusing on stocks such as GDS Holdings Ltd, Cogent Comms, and Sprint Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coresite Realty with a $112.67 average price target, implying a 21.7% upside from current levels. In a report issued on October 17, BMO Capital also reiterated a Hold rating on the stock with a $111 price target.

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Based on Coresite Realty’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $18.6 million. In comparison, last year the company had a net profit of $17.84 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Carlyle Realty , Gp, L.L.C., a Major Shareholder at COR sold 2,250,000 shares for a total of $251,797,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.