Payden & Rygel boosted its stake in shares of CoreSite Realty Corporation (NYSE:COR) by 3,343.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 134,300 shares of the real estate investment trust’s stock after buying an additional 130,400 shares during the period. CoreSite Realty makes up approximately 1.5% of Payden & Rygel’s holdings, making the stock its 27th largest holding. Payden & Rygel owned approximately 0.39% of CoreSite Realty worth $15,028,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in COR. US Bancorp DE increased its stake in CoreSite Realty by 6.7% in the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 75 shares during the period. LS Investment Advisors LLC increased its stake in CoreSite Realty by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 56 shares during the period. IFP Advisors Inc increased its stake in CoreSite Realty by 14.6% in the second quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 174 shares during the period. Schroder Investment Management Group purchased a new stake in CoreSite Realty in the second quarter worth $188,000. Finally, Park Avenue Securities LLC purchased a new stake in CoreSite Realty in the third quarter worth $207,000. Institutional investors own 98.91% of the company’s stock.
In related news, SVP Derek Mccandless sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total transaction of $546,850.00. Following the sale, the senior vice president now owns 36,613 shares of the company’s stock, valued at $4,004,363.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul E. Szurek sold 3,805 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total value of $447,011.40. Following the sale, the chief executive officer now directly owns 93,405 shares in the company, valued at approximately $10,973,219.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,805 shares of company stock worth $1,868,981. 1.50% of the stock is owned by corporate insiders.
A number of research firms have weighed in on COR. BidaskClub lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co began coverage on CoreSite Realty in a research note on Monday, September 25th. They issued a “neutral” rating and a $118.00 target price on the stock. Zacks Investment Research upgraded CoreSite Realty from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research note on Wednesday, September 27th. ValuEngine lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, William Blair began coverage on CoreSite Realty in a research note on Friday, September 22nd. They issued an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $108.45.
CoreSite Realty Corporation (NYSE:COR) traded up $0.76 on Thursday, hitting $112.11. The stock had a trading volume of 307,600 shares, compared to its average volume of 425,603. CoreSite Realty Corporation has a fifty-two week low of $71.30 and a fifty-two week high of $120.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The company has a market cap of $3,812.79, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.44.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.64). CoreSite Realty had a return on equity of 15.35% and a net margin of 15.21%. The firm had revenue of $123.07 million for the quarter, compared to the consensus estimate of $121.27 million. During the same period in the previous year, the company posted $0.90 EPS. CoreSite Realty’s quarterly revenue was up 21.5% compared to the same quarter last year. equities analysts forecast that CoreSite Realty Corporation will post 4.48 EPS for the current fiscal year.
About CoreSite Realty
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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