CoreSite Realty Corporation (COR) Shares Bought by Global Endowment Management LP
Global Endowment Management LP grew its stake in CoreSite Realty Corporation (NYSE:COR) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,990 shares of the real estate investment trust’s stock after acquiring an additional 410 shares during the period. Global Endowment Management LP owned 0.09% of CoreSite Realty Corporation worth $3,312,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in CoreSite Realty Corporation by 53.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,108 shares of the real estate investment trust’s stock worth $1,357,000 after acquiring an additional 4,593 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in CoreSite Realty Corporation by 111.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 49,987 shares of the real estate investment trust’s stock worth $5,175,000 after acquiring an additional 26,307 shares in the last quarter. US Bancorp DE grew its stake in CoreSite Realty Corporation by 6.7% in the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 75 shares in the last quarter. Jane Street Group LLC bought a new position in CoreSite Realty Corporation in the 1st quarter worth about $233,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in CoreSite Realty Corporation in the 1st quarter worth about $722,000. Institutional investors and hedge funds own 98.32% of the company’s stock.
In related news, SVP Derek Mccandless sold 10,000 shares of CoreSite Realty Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total value of $1,107,400.00. Following the completion of the transaction, the senior vice president now owns 48,913 shares in the company, valued at $5,416,625.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul E. Szurek sold 3,805 shares of CoreSite Realty Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total transaction of $447,011.40. Following the completion of the transaction, the chief executive officer now owns 93,405 shares of the company’s stock, valued at approximately $10,973,219.40. The disclosure for this sale can be found here. Insiders sold 21,805 shares of company stock valued at $2,440,331 in the last 90 days. Company insiders own 1.50% of the company’s stock.
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CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $117.89 million during the quarter, compared to analysts’ expectations of $117.32 million. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, September 28th. CoreSite Realty Corporation’s dividend payout ratio (DPR) is currently 206.90%.
A number of brokerages have commented on COR. J P Morgan Chase & Co began coverage on shares of CoreSite Realty Corporation in a research note on Monday. They issued a “neutral” rating and a $118.00 target price on the stock. William Blair began coverage on shares of CoreSite Realty Corporation in a research note on Friday. They issued an “outperform” rating on the stock. KeyCorp restated a “hold” rating on shares of CoreSite Realty Corporation in a research note on Tuesday, September 12th. BidaskClub upgraded shares of CoreSite Realty Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of CoreSite Realty Corporation from a “sell” rating to a “hold” rating and set a $124.00 target price on the stock in a research note on Monday, July 31st. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. CoreSite Realty Corporation presently has a consensus rating of “Hold” and an average target price of $99.82.
About CoreSite Realty Corporation
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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