New York State Common Retirement Fund lessened its holdings in CoreSite Realty Co. (NYSE:COR) by 6.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,265 shares of the real estate investment trust’s stock after selling 6,300 shares during the period. New York State Common Retirement Fund owned 0.21% of CoreSite Realty worth $10,493,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of CoreSite Realty by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 91,453 shares of the real estate investment trust’s stock worth $10,872,000 after purchasing an additional 1,582 shares in the last quarter. First Trust Advisors LP increased its position in CoreSite Realty by 7.0% during the third quarter. First Trust Advisors LP now owns 110,734 shares of the real estate investment trust’s stock worth $13,164,000 after buying an additional 7,240 shares in the last quarter. Seelaus Asset Management LLC raised its holdings in shares of CoreSite Realty by 11.0% in the third quarter. Seelaus Asset Management LLC now owns 3,015 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 300 shares during the last quarter. American International Group Inc. lifted its position in shares of CoreSite Realty by 3.3% in the third quarter. American International Group Inc. now owns 79,522 shares of the real estate investment trust’s stock valued at $9,454,000 after acquiring an additional 2,513 shares in the last quarter. Finally, Securian Asset Management Inc boosted its stake in shares of CoreSite Realty by 0.7% during the third quarter. Securian Asset Management Inc now owns 13,765 shares of the real estate investment trust’s stock valued at $1,636,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company’s stock.
Several equities research analysts have issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of CoreSite Realty in a research note on Thursday, July 30th. Royal Bank of Canada lifted their target price on shares of CoreSite Realty from $126.00 to $133.00 and gave the stock a “sector perform” rating in a research note on Monday, August 17th. Credit Suisse Group boosted their price target on CoreSite Realty from $141.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Zacks Investment Research cut CoreSite Realty from a “buy” rating to a “hold” rating in a report on Wednesday, November 4th. Finally, Raymond James upgraded CoreSite Realty from a “market perform” rating to an “outperform” rating and set a $136.00 target price for the company in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $122.67.
COR stock opened at $127.54 on Friday. The stock has a 50-day moving average price of $124.82 and a two-hundred day moving average price of $122.41. CoreSite Realty Co. has a 12-month low of $90.07 and a 12-month high of $131.36. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 16.41. The company has a market cap of $5.45 billion, a PE ratio of 63.45, a price-to-earnings-growth ratio of 1.15 and a beta of 0.23.
CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.79). CoreSite Realty had a net margin of 13.19% and a return on equity of 51.47%. The firm had revenue of $154.00 million during the quarter, compared to analyst estimates of $152.67 million. During the same period in the prior year, the firm earned $1.28 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts forecast that CoreSite Realty Co. will post 5.28 EPS for the current fiscal year.
In other CoreSite Realty news, SVP Maile Kaiser sold 2,366 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $119.83, for a total value of $283,517.78. Following the transaction, the senior vice president now directly owns 15,071 shares of the company’s stock, valued at $1,805,957.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey S. Finnin sold 4,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $120.35, for a total value of $481,400.00. Following the transaction, the chief financial officer now owns 72,322 shares in the company, valued at approximately $8,703,952.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,116 shares of company stock valued at $983,565. 1.50% of the stock is owned by insiders.
About CoreSite Realty
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud 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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