CoreSite Realty Corp (NYSE:COR) Shares Bought by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lifted its position in shares of CoreSite Realty Corp (NYSE:COR) by 20.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,029 shares of the real estate investment trust’s stock after buying an additional 838 shares during the quarter. Princeton Global Asset Management LLC’s holdings in CoreSite Realty were worth $600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COR. Invesco Ltd. boosted its stake in CoreSite Realty by 888.7% in the 2nd quarter. Invesco Ltd. now owns 955,548 shares of the real estate investment trust’s stock worth $110,050,000 after buying an additional 858,903 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of CoreSite Realty by 424.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 372,621 shares of the real estate investment trust’s stock valued at $42,915,000 after acquiring an additional 301,555 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CoreSite Realty by 67.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 724,196 shares of the real estate investment trust’s stock worth $83,406,000 after acquiring an additional 292,526 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of CoreSite Realty by 50.2% during the 2nd quarter. Centersquare Investment Management LLC now owns 340,152 shares of the real estate investment trust’s stock worth $39,175,000 after acquiring an additional 113,624 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of CoreSite Realty by 48.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 333,354 shares of the real estate investment trust’s stock worth $40,516,000 after acquiring an additional 108,953 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Guggenheim set a $119.00 target price on shares of CoreSite Realty and gave the company a “hold” rating in a report on Thursday, September 12th. ValuEngine downgraded shares of CoreSite Realty from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research lowered shares of CoreSite Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Raymond James boosted their price objective on shares of CoreSite Realty from $110.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Co upped their price objective on CoreSite Realty from $105.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. CoreSite Realty currently has an average rating of “Hold” and an average target price of $112.20.

COR opened at $113.03 on Wednesday. The firm has a 50 day moving average price of $116.46 and a 200 day moving average price of $115.77. The company has a market cap of $4.27 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. CoreSite Realty Corp has a 1 year low of $82.64 and a 1 year high of $123.68. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.16 and a current ratio of 0.16.

CoreSite Realty (NYSE:COR) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.78). CoreSite Realty had a net margin of 13.48% and a return on equity of 26.30%. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $145.19 million. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that CoreSite Realty Corp will post 5.12 earnings per share for the current year.

In other news, CAO Mark R. Jones sold 750 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $120.30, for a total value of $90,225.00. Following the completion of the sale, the chief accounting officer now owns 13,882 shares in the company, valued at $1,670,004.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brian Warren sold 10,931 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $118.59, for a total value of $1,296,307.29. Following the completion of the sale, the senior vice president now owns 26,945 shares of the company’s stock, valued at approximately $3,195,407.55. The disclosure for this sale can be found here. Insiders sold 15,435 shares of company stock valued at $1,801,677 in the last three months. Company insiders own 1.20% of the company’s stock.

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.

See Also: Buy-Side Analysts

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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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