CoreSite Realty Corporation (NYSE:COR) Shares Bought by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. increased its stake in CoreSite Realty Corporation (NYSE:COR) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,647 shares of the real estate investment trust’s stock after buying an additional 3,168 shares during the period. UBS Asset Management Americas Inc. owned 0.06% of CoreSite Realty Corporation worth $1,949,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in shares of CoreSite Realty Corporation during the first quarter valued at $2,097,000. Crawford Investment Counsel Inc. increased its stake in shares of CoreSite Realty Corporation by 15.5% in the first quarter. Crawford Investment Counsel Inc. now owns 178,776 shares of the real estate investment trust’s stock valued at $16,099,000 after buying an additional 23,946 shares in the last quarter. Forward Management LLC increased its stake in shares of CoreSite Realty Corporation by 172.4% in the first quarter. Forward Management LLC now owns 28,600 shares of the real estate investment trust’s stock valued at $2,576,000 after buying an additional 18,100 shares in the last quarter. Comerica Bank increased its stake in shares of CoreSite Realty Corporation by 4.1% in the first quarter. Comerica Bank now owns 37,496 shares of the real estate investment trust’s stock valued at $3,648,000 after buying an additional 1,477 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in CoreSite Realty Corporation by 33.7% in the first quarter. BNP Paribas Arbitrage SA now owns 8,515 shares of the real estate investment trust’s stock worth $767,000 after buying an additional 2,148 shares during the period.
Shares of CoreSite Realty Corporation (NYSE COR) traded down 0.95% during trading on Friday, reaching $108.02. 298,642 shares of the company were exchanged. The company has a 50 day moving average price of $106.14 and a 200-day moving average price of $96.11. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 62.15 and a beta of 0.57. CoreSite Realty Corporation has a one year low of $64.81 and a one year high of $113.55.
CoreSite Realty Corporation (NYSE:COR) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The business had revenue of $117.89 million for the quarter, compared to analyst estimates of $117.32 million. CoreSite Realty Corporation had a return on equity of 14.14% and a net margin of 15.15%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. Equities analysts predict that CoreSite Realty Corporation will post $1.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This is a positive change from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 3.33%. CoreSite Realty Corporation’s dividend payout ratio is 206.90%.
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Several research analysts have recently weighed in on the stock. BidaskClub raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of CoreSite Realty Corporation from a “sell” rating to a “hold” rating and set a $124.00 price target for the company in a report on Monday. Jefferies Group LLC restated a “buy” rating and set a $119.00 price target on shares of CoreSite Realty Corporation in a report on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating and set a $110.00 price target on shares of CoreSite Realty Corporation in a report on Thursday, June 8th. Finally, Credit Suisse Group started coverage on shares of CoreSite Realty Corporation in a research note on Friday, June 30th. They issued a “neutral” rating and a $103.00 target price for the company. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $98.00.
In related news, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total transaction of $885,920.00. Following the transaction, the chief financial officer now directly owns 110,493 shares in the company, valued at approximately $12,235,994.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Derek Mccandless sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $5,243,727.24. The disclosure for this sale can be found here. Insiders have sold a total of 28,000 shares of company stock worth $3,048,120 over the last quarter. Corporate insiders own 3.10% of the company’s stock.
About CoreSite Realty Corporation
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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