UPDATE: Mizuho Securities Starts CoreSite Realty (COR) at Neutral

December 2, 2020 4:05 PM EST
Get Alerts COR Hot Sheet
Price: $139.16 +0.03%

Rating Summary:
    11 Buy, 13 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 11 | New: 19
Trade Now! 
Join SI Premium – FREE
(Updated - December 2, 2020 4:18 PM EST)

(updating comment)

Mizuho Securities analyst Omotayo Okusanya initiates coverage on CoreSite Realty (NYSE: COR) with a Neutral rating, PT $135.00.

The analyst comments "While we are confident about lease-up of the Silicon Valley development projects, we are a bit more reserved in our outlook on the Chicago and Northern NJ projects given rising supply in those markets. We therefore believe that 2021 consensus FFO/sh of $5.61 is too high and that initial 2021 FFO/sh guidance may disappoint investors. This is the basis for our Neutral rating. Our 2020 FFO/sh estimate is at $5.51. A meaningful stock sell-off on a lower than expected 2021 FFO/sh guide could however create a more attractive entry point in our opinion, as long as our fundamental thesis remained intact."

For an analyst ratings summary and ratings history on CoreSite Realty click here. For more ratings news on CoreSite Realty click here.

Shares of CoreSite Realty closed at $125.10 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage