Systematic Financial Management LP Increases Holdings in CoreSite Realty Corp (COR)

Systematic Financial Management LP raised its position in shares of CoreSite Realty Corp (NYSE:COR) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,500 shares of the real estate investment trust’s stock after buying an additional 910 shares during the quarter. Systematic Financial Management LP’s holdings in CoreSite Realty were worth $1,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COR. Bridgeworth LLC bought a new position in CoreSite Realty in the 2nd quarter worth approximately $166,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in CoreSite Realty in the 2nd quarter worth approximately $166,000. Capital Advisors Ltd. LLC bought a new position in CoreSite Realty in the 3rd quarter worth approximately $169,000. Zions Bancorporation bought a new position in CoreSite Realty in the 2nd quarter worth approximately $180,000. Finally, Oakbrook Investments LLC bought a new position in CoreSite Realty in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

In other news, insider Mark R. Jones sold 600 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $95.29, for a total transaction of $57,174.00. Following the completion of the sale, the insider now owns 15,621 shares in the company, valued at approximately $1,488,525.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul E. Szurek sold 3,588 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $114.15, for a total value of $409,570.20. Following the sale, the chief executive officer now owns 147,075 shares of the company’s stock, valued at approximately $16,788,611.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,350 shares of company stock valued at $580,721. 1.50% of the stock is currently owned by corporate insiders.

A number of brokerages recently issued reports on COR. Credit Suisse Group set a $112.00 price objective on CoreSite Realty and gave the stock a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research lowered CoreSite Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Berenberg Bank began coverage on CoreSite Realty in a report on Thursday, September 20th. They issued a “buy” rating and a $153.00 price objective for the company. Royal Bank of Canada increased their price objective on CoreSite Realty to $123.00 and gave the stock an “average” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. Finally, Cowen reissued a “buy” rating and issued a $115.00 price objective on shares of CoreSite Realty in a report on Friday, July 27th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $119.15.

Shares of NYSE COR opened at $93.09 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.18 and a beta of 0.55. CoreSite Realty Corp has a 1 year low of $88.37 and a 1 year high of $119.59.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.72). The firm had revenue of $139.18 million for the quarter, compared to the consensus estimate of $138.10 million. CoreSite Realty had a net margin of 14.91% and a return on equity of 20.18%. Equities research analysts forecast that CoreSite Realty Corp will post 5.05 earnings per share for the current year.

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About CoreSite Realty

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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