Tower Research Capital LLC TRC Purchases Shares of 1,788 CoreSite Realty Corp. (COR)
Tower Research Capital LLC TRC purchased a new position in CoreSite Realty Corp. (NYSE:COR) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,788 shares of the real estate investment trust’s stock, valued at approximately $159,000.
Several other hedge funds have also recently made changes to their positions in the company. Capital Growth Management LP purchased a new stake in shares of CoreSite Realty Corp. during the first quarter worth about $51,457,000. Prudential Financial Inc. increased its stake in shares of CoreSite Realty Corp. by 368.5% in the first quarter. Prudential Financial Inc. now owns 516,016 shares of the real estate investment trust’s stock worth $36,126,000 after buying an additional 405,882 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of CoreSite Realty Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 5,163,842 shares of the real estate investment trust’s stock worth $457,981,000 after buying an additional 210,238 shares in the last quarter. Geneva Advisors LLC increased its stake in shares of CoreSite Realty Corp. by 110.4% in the second quarter. Geneva Advisors LLC now owns 346,791 shares of the real estate investment trust’s stock worth $30,757,000 after buying an additional 181,977 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of CoreSite Realty Corp. by 59.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 437,800 shares of the real estate investment trust’s stock worth $38,828,000 after buying an additional 163,950 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.
CoreSite Realty Corp. (NYSE:COR) opened at 71.95 on Friday. The firm has a 50 day moving average of $77.55 and a 200 day moving average of $78.31. The firm has a market cap of $2.30 billion, a P/E ratio of 53.85 and a beta of 0.81. CoreSite Realty Corp. has a 1-year low of $53.62 and a 1-year high of $91.91.
CoreSite Realty Corp. (NYSE:COR) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. The company earned $96.10 million during the quarter, compared to analyst estimates of $96.09 million. CoreSite Realty Corp. had a net margin of 12.52% and a return on equity of 9.02%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. On average, equities research analysts expect that CoreSite Realty Corp. will post $3.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, September 28th. CoreSite Realty Corp.’s dividend payout ratio is currently 160.61%.
A number of analysts have recently issued reports on COR shares. Stifel Nicolaus downgraded shares of CoreSite Realty Corp. from a “hold” rating to a “sell” rating and set a $79.00 price target for the company. in a report on Monday, July 11th. Jefferies Group restated a “buy” rating on shares of CoreSite Realty Corp. in a report on Tuesday, September 13th. Citigroup Inc. raised their price target on shares of CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Zacks Investment Research downgraded shares of CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Finally, SunTrust Banks Inc. assumed coverage on shares of CoreSite Realty Corp. in a report on Thursday, July 21st. They set a “buy” rating and a $100.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $77.06.
In related news, Director Paul E. Szurek acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was bought at an average cost of $81.20 per share, with a total value of $81,200.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $487,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $82.61, for a total transaction of $660,880.00. Following the transaction, the chief financial officer now directly owns 117,644 shares of the company’s stock, valued at $9,718,570.84. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
CoreSite Realty Corp. Company Profile
CoreSite Realty Corporation (CoreSite) 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 DC), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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