Oppenheimer Asset Management Inc. acquired a new position in CoreSite Realty Corporation (NYSE:COR) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,614 shares of the real estate investment trust’s stock, valued at approximately $325,000.
Several other hedge funds have also recently bought and sold shares of COR. Creative Planning increased its stake in CoreSite Realty Corporation by 129.2% in the first quarter. Creative Planning now owns 2,292 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 1,292 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in CoreSite Realty Corporation during the first quarter worth approximately $722,000. Norges Bank purchased a new stake in CoreSite Realty Corporation during the fourth quarter worth approximately $26,679,000. State Street Corp increased its stake in CoreSite Realty Corporation by 6.2% in the fourth quarter. State Street Corp now owns 762,899 shares of the real estate investment trust’s stock worth $60,551,000 after buying an additional 44,320 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in CoreSite Realty Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 31,850 shares of the real estate investment trust’s stock worth $2,868,000 after buying an additional 4,807 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.
CoreSite Realty Corporation (COR) opened at 103.07 on Monday. The stock’s 50 day moving average price is $104.83 and its 200-day moving average price is $92.00. CoreSite Realty Corporation has a one year low of $64.81 and a one year high of $113.55. The stock has a market cap of $3.52 billion, a P/E ratio of 62.47 and a beta of 0.57.
CoreSite Realty Corporation (NYSE:COR) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.06. The firm had revenue of $114.92 million during the quarter, compared to analysts’ expectations of $114.48 million. CoreSite Realty Corporation had a return on equity of 13.09% and a net margin of 15.08%. The company’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts predict that CoreSite Realty Corporation will post $1.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, June 28th. This is a boost from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. CoreSite Realty Corporation’s dividend payout ratio is 218.18%.
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COR has been the topic of a number of research reports. Royal Bank of Canada reissued a “buy” rating and issued a $110.00 price objective on shares of CoreSite Realty Corporation in a research note on Thursday, June 8th. Citigroup Inc. lowered CoreSite Realty Corporation from a “buy” rating to a “neutral” rating and set a $103.00 target price on the stock. in a research report on Wednesday, May 3rd. Credit Suisse Group started coverage on CoreSite Realty Corporation in a research report on Friday, June 30th. They set a “neutral” rating and a $103.00 target price on the stock. Zacks Investment Research raised CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company started coverage on CoreSite Realty Corporation in a research report on Wednesday, May 17th. They set a “market perform” rating and a $94.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $97.45.
In other CoreSite Realty Corporation news, CFO Jeffrey S. Finnin sold 8,000 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $98.75, for a total transaction of $790,000.00. Following the completion of the transaction, the chief financial officer now owns 113,268 shares in the company, valued at approximately $11,185,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Derek Mccandless sold 10,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $105.48, for a total value of $1,054,800.00. Following the transaction, the senior vice president now owns 49,713 shares of the company’s stock, valued at approximately $5,243,727.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,152 shares of company stock valued at $2,150,000. Corporate insiders own 3.10% of the company’s stock.
CoreSite Realty Corporation Company 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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