CoreSite Realty Co. (NYSE:COR) Position Raised by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA raised its stake in CoreSite Realty Co. (NYSE:COR) by 72.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,335 shares of the real estate investment trust’s stock after buying an additional 8,150 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in CoreSite Realty were worth $2,602,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COR. Victory Capital Management Inc. lifted its stake in CoreSite Realty by 30.6% in the first quarter. Victory Capital Management Inc. now owns 23,078 shares of the real estate investment trust’s stock valued at $2,766,000 after buying an additional 5,401 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in CoreSite Realty by 15.6% in the first quarter. Commonwealth Equity Services LLC now owns 3,055 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 413 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of CoreSite Realty by 9.6% during the first quarter. Envestnet Asset Management Inc. now owns 59,262 shares of the real estate investment trust’s stock valued at $7,103,000 after purchasing an additional 5,171 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of CoreSite Realty by 7.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,192 shares of the real estate investment trust’s stock valued at $1,821,000 after purchasing an additional 1,116 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of CoreSite Realty by 1.2% during the first quarter. Alliancebernstein L.P. now owns 73,458 shares of the real estate investment trust’s stock valued at $8,804,000 after purchasing an additional 898 shares during the period. Institutional investors own 95.13% of the company’s stock.

In other CoreSite Realty news, SVP Juan Font sold 600 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $139.11, for a total transaction of $83,466.00. Following the completion of the sale, the senior vice president now directly owns 25,971 shares in the company, valued at approximately $3,612,825.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Steven James Smith sold 5,435 shares of the firm’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $138.98, for a total value of $755,356.30. Following the sale, the executive now owns 51,541 shares of the company’s stock, valued at $7,163,168.18. The disclosure for this sale can be found here. Insiders sold a total of 10,856 shares of company stock worth $1,508,604 in the last three months. 1.40% of the stock is currently owned by company insiders.

COR has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on CoreSite Realty from $130.00 to $136.00 and gave the company a “sector perform” rating in a report on Monday, August 16th. They noted that the move was a valuation call. Raymond James raised their price target on CoreSite Realty from $136.00 to $149.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Cowen raised their price target on CoreSite Realty from $153.00 to $158.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Credit Suisse Group raised their price target on CoreSite Realty from $157.00 to $161.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Finally, Wells Fargo & Company raised their price target on CoreSite Realty from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, July 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $142.33.

NYSE:COR traded up $2.77 during mid-day trading on Tuesday, reaching $152.34. 3,267 shares of the stock were exchanged, compared to its average volume of 353,118. The business has a fifty day moving average price of $143.52 and a 200 day moving average price of $130.98. The firm has a market capitalization of $6.73 billion, a PE ratio of 72.61, a PEG ratio of 1.26 and a beta of 0.28. CoreSite Realty Co. has a 1-year low of $107.23 and a 1-year high of $155.40. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 80.93.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.76). CoreSite Realty had a return on equity of 143.10% and a net margin of 13.98%. On average, sell-side analysts forecast that CoreSite Realty Co. will post 5.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $5.08 dividend on an annualized basis and a yield of 3.33%. CoreSite Realty’s dividend payout ratio is currently 95.67%.

About CoreSite Realty

CoreSite Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, construction and operation of strategically located data centers. The firm also offers collocation and interconnection solutions for networks, cloud services, and industry solutions. The company was founded in 2001 and is headquartered in Denver, CO.

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

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