Lake Street Advisors Group LLC purchased a new stake in shares of CoreSite Realty Corp (NYSE:COR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,661 shares of the real estate investment trust’s stock, valued at approximately $849,000.

Several other hedge funds have also recently made changes to their positions in COR. BTIM Corp. acquired a new position in shares of CoreSite Realty during the 2nd quarter valued at about $33,247,000. BlackRock Inc. boosted its position in shares of CoreSite Realty by 6.9% during the 2nd quarter. BlackRock Inc. now owns 3,577,163 shares of the real estate investment trust’s stock valued at $396,420,000 after acquiring an additional 231,701 shares during the last quarter. Aviva PLC boosted its position in shares of CoreSite Realty by 83.8% during the 2nd quarter. Aviva PLC now owns 399,935 shares of the real estate investment trust’s stock valued at $44,321,000 after acquiring an additional 182,321 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new position in shares of CoreSite Realty during the 1st quarter valued at about $18,041,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of CoreSite Realty during the 1st quarter valued at about $8,998,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of COR opened at $116.24 on Tuesday. The stock has a market capitalization of $4.03 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.49 and a beta of 0.27. CoreSite Realty Corp has a 12-month low of $89.76 and a 12-month high of $119.59. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.23 and a current ratio of 0.23.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.67). The company had revenue of $136.40 million during the quarter, compared to analysts’ expectations of $132.99 million. CoreSite Realty had a net margin of 15.23% and a return on equity of 19.09%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. analysts expect that CoreSite Realty Corp will post 5.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a dividend of $1.03 per share. The ex-dividend date is Thursday, September 27th. This represents a $4.12 dividend on an annualized basis and a yield of 3.54%. CoreSite Realty’s dividend payout ratio (DPR) is presently 91.15%.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of CoreSite Realty to $123.00 and gave the company an “average” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Credit Suisse Group set a $112.00 price target on shares of CoreSite Realty and gave the company a “hold” rating in a research report on Sunday, August 5th. Citigroup boosted their price objective on shares of CoreSite Realty from $105.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Zacks Investment Research upgraded shares of CoreSite Realty from a “sell” rating to a “hold” rating in a report on Friday, July 27th. Finally, Cowen restated a “buy” rating and issued a $115.00 price objective on shares of CoreSite Realty in a report on Friday, July 27th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $119.00.

In other CoreSite Realty news, SVP Brian Warren sold 1,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $114.27, for a total transaction of $114,270.00. Following the sale, the senior vice president now directly owns 36,623 shares in the company, valued at $4,184,910.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul E. Szurek sold 3,588 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $114.15, for a total transaction of $409,570.20. Following the sale, the chief executive officer now owns 147,075 shares in the company, valued at $16,788,611.25. The disclosure for this sale can be found here. Insiders have sold 2,265,188 shares of company stock worth $253,540,426 over the last quarter. Insiders own 1.50% of the company’s stock.

CoreSite Realty Profile

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center 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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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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