CoreSite Realty Corporation (COR) Stake Raised by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its position in shares of CoreSite Realty Corporation (NYSE:COR) by 53.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,108 shares of the real estate investment trust’s stock after acquiring an additional 4,593 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in CoreSite Realty Corporation were worth $1,357,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of CoreSite Realty Corporation by 11.1% during the second quarter. Legal & General Group Plc now owns 66,268 shares of the real estate investment trust’s stock valued at $6,861,000 after acquiring an additional 6,597 shares during the period. Bristol Advisors LLC acquired a new stake in shares of CoreSite Realty Corporation during the second quarter valued at approximately $766,000. Green Street Investors LLC raised its holdings in shares of CoreSite Realty Corporation by 550.0% during the second quarter. Green Street Investors LLC now owns 27,300 shares of the real estate investment trust’s stock valued at $2,826,000 after acquiring an additional 23,100 shares during the period. SG Americas Securities LLC acquired a new stake in shares of CoreSite Realty Corporation during the second quarter valued at approximately $615,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of CoreSite Realty Corporation during the second quarter valued at approximately $700,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
In other CoreSite Realty Corporation news, CFO Jeffrey S. Finnin sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total transaction of $885,920.00. Following the sale, the chief financial officer now directly owns 110,493 shares in the company, valued at approximately $12,235,994.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Derek Mccandless sold 10,000 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 $1,107,400.00. Following the sale, the senior vice president now owns 48,913 shares in the company, valued at $5,416,625.62. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
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CoreSite Realty Corporation (COR) opened at 118.12 on Tuesday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 67.96 and a beta of 0.56. CoreSite Realty Corporation has a 12 month low of $64.81 and a 12 month high of $120.85. The company’s 50-day moving average is $109.91 and its 200-day moving average is $100.12.
CoreSite Realty Corporation (NYSE:COR) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. The firm had revenue of $117.89 million for the quarter, compared to the consensus estimate of $117.32 million. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. Equities analysts anticipate that CoreSite Realty Corporation will post $1.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.60 annualized dividend and a yield of 3.05%. CoreSite Realty Corporation’s dividend payout ratio (DPR) is currently 206.90%.
A number of equities research analysts have recently issued reports on COR shares. Zacks Investment Research lowered shares of CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Royal Bank Of Canada restated a “buy” rating on shares of CoreSite Realty Corporation in a report on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and set a $117.00 price target on shares of CoreSite Realty Corporation in a report on Wednesday, June 14th. BidaskClub upgraded shares of CoreSite Realty Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Finally, Wells Fargo & Company started coverage on shares of CoreSite Realty Corporation in a report on Wednesday, May 17th. They set a “market perform” rating and a $94.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. CoreSite Realty Corporation presently has a consensus rating of “Hold” and a consensus price target of $98.00.
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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