Price Action Report: Could CoreSite Realty Corp Change Direction After Today’s Big Decline?

Price Action Report: Could CoreSite Realty Corp Change Direction After Today's Big Decline?

The stock of CoreSite Realty Corp (NYSE:COR) is a huge mover today! The stock decreased 1.93% or $1.46 on September 30, hitting $74.04. CoreSite Realty Corp (NYSE:COR) has risen 14.86% since February 29, 2016 and is uptrending. It has outperformed by 4.44% the S&P500.
The move comes after 5 months negative chart setup for the $3.53 billion company. It was reported on Oct, 1 by Barchart.com. We have $70.34 PT which if reached, will make NYSE:COR worth $176.50 million less.

Analysts await CoreSite Realty Corp (NYSE:COR) to report earnings on October, 27. They expect $0.91 earnings per share, up 22.97% or $0.17 from last year’s $0.74 per share. COR’s profit will be $43.39 million for 20.34 P/E if the $0.91 EPS becomes a reality. After $0.89 actual earnings per share reported by CoreSite Realty Corp for the previous quarter, Wall Street now forecasts 2.25% EPS growth.

CoreSite Realty Corp (NYSE:COR) Ratings Coverage

Out of 7 analysts covering CoreSite Realty (NYSE:COR), 4 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 57% are positive. CoreSite Realty has been the topic of 11 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Friday, July 24 the stock rating was maintained by RBC Capital Markets with “Outperform”. As per Thursday, August 11, the company rating was maintained by Jefferies. The stock of CoreSite Realty Corp (NYSE:COR) has “Hold” rating given on Tuesday, August 25 by Jefferies. The stock of CoreSite Realty Corp (NYSE:COR) earned “Sell” rating by Stifel Nicolaus on Monday, July 11. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, February 16. On Thursday, November 12 the stock rating was initiated by BB&T Capital with “Buy”. The stock of CoreSite Realty Corp (NYSE:COR) has “Outperform” rating given on Monday, October 26 by RBC Capital Markets. The firm has “Buy” rating by Canaccord Genuity given on Tuesday, June 7. The firm has “Sell” rating by Stifel Nicolaus given on Friday, July 29. The firm earned “Equal-Weight” rating on Friday, April 29 by Stephens.

According to Zacks Investment Research, “Coresite Realty Corporation provides data center products and interconnection services. The data centers include ample and redundant power and advanced cooling and security systems, and many are points of dense network interconnection. The company’s data centers are located in Los Angeles, the San Francisco Bay and northern Virginia areas, Chicago, Boston, New York City, and Miami. It serves telecommunications carriers, content and media entertainment providers, cloud providers, enterprise customers, financial and educational institutions, and government agencies. CoreSite Realty Corporation is headquartered in Denver, Colorado.”

Insitutional Activity: The institutional sentiment increased to 1.51 in 2016 Q2. Its up 0.45, from 1.06 in 2016Q1. The ratio is positive, as 19 funds sold all CoreSite Realty Corp shares owned while 70 reduced positions. 40 funds bought stakes while 94 increased positions. They now own 32.02 million shares or 9.16% more from 29.33 million shares in 2016Q1.
American Assets Advisers has 40,036 shares for 2.28% of their US portfolio. Ameritas Prtnrs last reported 2,613 shares in the company. Globeflex Capital Limited Partnership holds 0.65% of its portfolio in CoreSite Realty Corp (NYSE:COR) for 26,614 shares. Franklin Resource reported 228,220 shares or 0.01% of all its holdings. Phocas Financial Corporation accumulated 256,631 shares or 1.66% of the stock. Cornercap Counsel has invested 0.08% of its portfolio in CoreSite Realty Corp (NYSE:COR). Mizuho Bk Limited accumulated 0% or 5,875 shares. D E Shaw And Company Inc last reported 3,091 shares in the company. Moreover, Blackrock Investment Mgmt Ltd Liability Co has 0.02% invested in CoreSite Realty Corp (NYSE:COR) for 138,835 shares. Lpl Financial Ltd last reported 44,117 shares in the company. Comerica State Bank reported 30,518 shares or 0.02% of all its holdings. Blackrock Institutional Company Na has 915,763 shares for 0.01% of their US portfolio. Principal Gp Inc, a Iowa-based fund reported 222,222 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 1,143 shares or 0% of all its holdings. Credit Suisse Ag accumulated 0.02% or 185,139 shares.

More notable recent CoreSite Realty Corp (NYSE:COR) news were published by: Finance.Yahoo.com which released: “CoreSite Realty Corporation Schedules Third-Quarter 2016 Earnings Release and …” on September 29, 2016, also Businesswire.com with their article: “CoreSite Realty Corporation Announces Executive Leadership Transition” published on July 28, 2016, Reuters.com published: “BRIEF-Kelly Chambliss joins Coresite Realty Corp’s board” on September 01, 2016. More interesting news about CoreSite Realty Corp (NYSE:COR) were released by: Nasdaq.com and their article: “CoreSite Realty Corp.’s Series A Cumulative Redeemable Preferred Stock Goes Ex …” published on September 26, 2016 as well as Businesswire.com‘s news article titled: “CoreSite Realty Corporation Announces Sale of Common Stock by The Carlyle Group” with publication date: May 09, 2016.

COR Company Profile

CoreSite Realty Corporation (CoreSite), incorporated on February 17, 2010, is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia (including Washington D.C.), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver. It delivers data center and interconnection solutions across approximately eight North American markets.

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