Neuberger Berman Group LLC boosted its stake in shares of CoreSite Realty Corp (NYSE:COR) by 26.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,064 shares of the real estate investment trust’s stock after buying an additional 67,201 shares during the period. Neuberger Berman Group LLC owned approximately 0.93% of CoreSite Realty worth $35,703,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Fisher Asset Management LLC bought a new stake in shares of CoreSite Realty in the 3rd quarter worth $32,098,000. Goldman Sachs Group Inc. increased its holdings in shares of CoreSite Realty by 53.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock worth $52,529,000 after purchasing an additional 176,489 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of CoreSite Realty by 44.9% in the 2nd quarter. Principal Financial Group Inc. now owns 536,724 shares of the real estate investment trust’s stock worth $55,567,000 after purchasing an additional 166,193 shares in the last quarter. Payden & Rygel increased its holdings in shares of CoreSite Realty by 3,343.6% in the 3rd quarter. Payden & Rygel now owns 134,300 shares of the real estate investment trust’s stock worth $15,028,000 after purchasing an additional 130,400 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of CoreSite Realty by 45.6% in the 2nd quarter. Renaissance Technologies LLC now owns 358,900 shares of the real estate investment trust’s stock worth $37,157,000 after purchasing an additional 112,400 shares in the last quarter. 97.74% of the stock is owned by institutional investors.
In other news, SVP Derek Mccandless sold 5,000 shares of CoreSite Realty stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the sale, the senior vice president now directly owns 36,613 shares of the company’s stock, valued at $4,004,363.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the sale, the chief financial officer now directly owns 98,562 shares in the company, valued at $10,781,697.18. The disclosure for this sale can be found here. Insiders sold 20,121 shares of company stock worth $2,224,720 over the last 90 days. Company insiders own 1.50% of the company’s stock.
CoreSite Realty Corp (NYSE:COR) traded down $3.03 during midday trading on Friday, reaching $105.67. The company had a trading volume of 787,591 shares, compared to its average volume of 349,057. The stock has a market capitalization of $5,080.00, a P/E ratio of 57.43, a PEG ratio of 1.31 and a beta of 0.44. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. CoreSite Realty Corp has a 12 month low of $81.63 and a 12 month high of $120.85.
CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The company had revenue of $123.07 million for the quarter, compared to analysts’ expectations of $121.27 million. During the same quarter last year, the firm posted $0.90 earnings per share. CoreSite Realty’s revenue for the quarter was up 21.5% on a year-over-year basis. sell-side analysts anticipate that CoreSite Realty Corp will post 4.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 3.71%. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, December 28th. CoreSite Realty’s payout ratio is presently 213.04%.
COR has been the subject of a number of research analyst reports. William Blair initiated coverage on CoreSite Realty in a report on Friday, September 22nd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. assumed coverage on CoreSite Realty in a report on Monday, September 25th. They issued a “neutral” rating and a $118.00 target price for the company. Zacks Investment Research upgraded CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, September 27th. KeyCorp restated a “hold” rating on shares of CoreSite Realty in a research note on Thursday, October 12th. Finally, Cowen restated a “buy” rating and issued a $111.00 price target on shares of CoreSite Realty in a research note on Thursday, October 19th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $110.75.
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CoreSite Realty Profile
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., 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, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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