Stifel Financial Corp Has $4.37 Million Position in CoreSite Realty Corp (NYSE:COR)
Stifel Financial Corp increased its position in shares of CoreSite Realty Corp (NYSE:COR) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,067 shares of the real estate investment trust’s stock after buying an additional 1,111 shares during the quarter. Stifel Financial Corp owned 0.08% of CoreSite Realty worth $4,366,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. bought a new position in CoreSite Realty during the first quarter worth about $42,000. Meeder Asset Management Inc. acquired a new stake in CoreSite Realty during the 1st quarter worth $44,000. DekaBank Deutsche Girozentrale acquired a new position in shares of CoreSite Realty in the 2nd quarter valued at $66,000. Financial Management Professionals Inc. acquired a new position in shares of CoreSite Realty in the 2nd quarter valued at $73,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of CoreSite Realty in the 1st quarter valued at $74,000. 93.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Brian Warren sold 1,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $127.28, for a total transaction of $127,280.00. Following the completion of the sale, the senior vice president now directly owns 24,184 shares in the company, valued at $3,078,139.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeffrey S. Finnin sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $128.31, for a total transaction of $513,240.00. Following the sale, the chief financial officer now owns 75,196 shares of the company’s stock, valued at $9,648,398.76. The disclosure for this sale can be found here. Insiders have sold 244,717 shares of company stock valued at $31,451,711 in the last ninety days. Insiders own 1.50% of the company’s stock.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The business had revenue of $150.54 million during the quarter, compared to the consensus estimate of $149.87 million. CoreSite Realty had a net margin of 12.77% and a return on equity of 39.91%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 EPS. Research analysts forecast that CoreSite Realty Corp will post 5.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, September 29th. CoreSite Realty’s payout ratio is currently 95.69%.
COR has been the topic of several research reports. Zacks Investment Research raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Raymond James raised shares of CoreSite Realty from a “market perform” rating to an “outperform” rating and set a $136.00 price target on the stock in a research report on Thursday, August 6th. Barclays assumed coverage on shares of CoreSite Realty in a research report on Wednesday, July 15th. They set an “underweight” rating and a $110.00 price target on the stock. Royal Bank of Canada upped their target price on shares of CoreSite Realty from $126.00 to $133.00 and gave the company a “sector perform” rating in a report on Monday, August 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of CoreSite Realty in a report on Thursday, July 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $122.89.
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.
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