Oppenheimer Asset Management Inc. trimmed its holdings in CoreSite Realty Corp (NYSE:COR) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,184 shares of the real estate investment trust’s stock after selling 1,209 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CoreSite Realty were worth $1,132,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. People s United Financial Inc. grew its position in CoreSite Realty by 3.4% in the second quarter. People s United Financial Inc. now owns 21,608 shares of the real estate investment trust’s stock worth $2,394,000 after acquiring an additional 712 shares in the last quarter. Mutual of America Capital Management LLC grew its position in CoreSite Realty by 5.8% in the second quarter. Mutual of America Capital Management LLC now owns 29,611 shares of the real estate investment trust’s stock worth $3,281,000 after acquiring an additional 1,629 shares in the last quarter. Morse Asset Management Inc grew its position in CoreSite Realty by 217.0% in the second quarter. Morse Asset Management Inc now owns 11,490 shares of the real estate investment trust’s stock worth $1,273,000 after acquiring an additional 7,865 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in CoreSite Realty in the second quarter worth approximately $166,000. Finally, Bank of New York Mellon Corp grew its position in CoreSite Realty by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 402,677 shares of the real estate investment trust’s stock worth $44,624,000 after acquiring an additional 5,499 shares in the last quarter. 90.78% of the stock is owned by institutional investors.
COR has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of CoreSite Realty to $123.00 and gave the stock an “average” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Berenberg Bank initiated coverage on shares of CoreSite Realty in a research report on Thursday, September 20th. They issued a “buy” rating and a $153.00 target price for the company. Cowen reissued a “buy” rating and issued a $115.00 target price on shares of CoreSite Realty in a research report on Friday, July 27th. TheStreet downgraded shares of CoreSite Realty from a “b-” rating to a “c” rating in a research report on Thursday, October 25th. Finally, Credit Suisse Group set a $112.00 target price on shares of CoreSite Realty and gave the stock a “hold” rating in a research report on Sunday, August 5th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. CoreSite Realty currently has an average rating of “Buy” and an average price target of $120.08.
In related news, SVP Brian Warren sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $115.11, for a total transaction of $1,151,100.00. Following the completion of the transaction, the senior vice president now directly owns 26,623 shares in the company, valued at approximately $3,064,573.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul E. Szurek sold 3,588 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $114.15, for a total transaction of $409,570.20. Following the transaction, the chief executive officer now owns 147,075 shares of the company’s stock, valued at $16,788,611.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,750 shares of company stock valued at $1,578,297. 1.50% of the stock is owned by insiders.
NYSE COR opened at $95.28 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 2.95. The firm has a market cap of $3.50 billion, a P/E ratio of 21.08, a PEG ratio of 1.21 and a beta of 0.55. CoreSite Realty Corp has a 1 year low of $88.37 and a 1 year high of $119.59.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.72). The firm had revenue of $139.18 million for the quarter, compared to the consensus estimate of $138.10 million. CoreSite Realty had a return on equity of 20.18% and a net margin of 14.91%. On average, equities research analysts expect that CoreSite Realty Corp will post 5.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Thursday, September 27th. CoreSite Realty’s dividend payout ratio is currently 91.15%.
About CoreSite Realty
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world's leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads.
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