Oppenheimer Asset Management Inc. Acquires 4,428 Shares of CoreSite Realty Corp (COR)
Oppenheimer Asset Management Inc. grew its holdings in shares of CoreSite Realty Corp (NYSE:COR) by 64.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,303 shares of the real estate investment trust’s stock after purchasing an additional 4,428 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CoreSite Realty were worth $1,266,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE raised its holdings in CoreSite Realty 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 during the last quarter. Daiwa Securities Group Inc. raised its holdings in CoreSite Realty by 19.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,100 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 500 shares during the last quarter. World Asset Management Inc purchased a new position in CoreSite Realty in the 2nd quarter worth approximately $265,000. Sei Investments Co. raised its holdings in CoreSite Realty by 0.3% in the 2nd quarter. Sei Investments Co. now owns 8,515 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 28 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in CoreSite Realty by 14.6% in the 2nd quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.
In other news, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total transaction of $546,850.00. Following the completion of the sale, the senior vice president now owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total transaction of $875,120.00. Following the sale, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at approximately $10,781,697.18. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Shares of CoreSite Realty Corp (NYSE COR) opened at $116.52 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.29. CoreSite Realty Corp has a 1 year low of $75.25 and a 1 year high of $120.85. The company has a market cap of $3,957.63, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 1.52 and a beta of 0.44.
CoreSite Realty (NYSE:COR) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.64). CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The company had revenue of $123.07 million during the quarter, compared to the consensus estimate of $121.27 million. During the same period last year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. equities analysts expect that CoreSite Realty Corp will post 4.48 earnings per share for the current 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 dividend of $0.98 per share. This is an increase from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.36%. CoreSite Realty’s payout ratio is presently 195.65%.
COR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a report on Wednesday, September 27th. SunTrust Banks restated a “buy” rating and issued a $121.00 price objective on shares of CoreSite Realty in a report on Friday, November 17th. ValuEngine upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. BidaskClub upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Citigroup boosted their price objective on shares of CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $109.55.
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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