Comerica Bank Has $2.46 Million Stake in CoreSite Realty Corp (COR)

Comerica Bank trimmed its stake in shares of CoreSite Realty Corp (NYSE:COR) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,682 shares of the real estate investment trust’s stock after selling 2,787 shares during the period. Comerica Bank’s holdings in CoreSite Realty were worth $2,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. Bridgeworth LLC purchased a new stake in shares of CoreSite Realty during the second quarter valued at $166,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of CoreSite Realty during the second quarter valued at $166,000. Capital Advisors Ltd. LLC purchased a new stake in CoreSite Realty in the 3rd quarter worth about $169,000. Zions Bancorporation purchased a new stake in CoreSite Realty in the 2nd quarter worth about $180,000. Finally, Qube Research & Technologies Ltd purchased a new stake in CoreSite Realty in the 2nd quarter worth about $208,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Shares of COR stock opened at $92.62 on Monday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 2.95. CoreSite Realty Corp has a fifty-two week low of $88.37 and a fifty-two week high of $119.59. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.17 and a beta of 0.55.

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

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

COR has been the subject of several research analyst reports. Citigroup increased their price objective on CoreSite Realty from $105.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Credit Suisse Group set a $112.00 price objective on CoreSite Realty and gave the stock a “hold” rating in a research note on Sunday, August 5th. Royal Bank of Canada increased their price objective on CoreSite Realty to $123.00 and gave the stock an “average” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Berenberg Bank initiated coverage on CoreSite Realty in a research note on Thursday, September 20th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Cowen downgraded CoreSite Realty from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $115.00 to $107.00 in a research note on Monday, September 24th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $119.15.

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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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