Neuberger Berman Group LLC raised its position in CoreSite Realty Corp (NYSE:COR) by 26.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319,064 shares of the real estate investment trust’s stock after acquiring an additional 67,201 shares during the period. Neuberger Berman Group LLC owned about 0.93% of CoreSite Realty worth $35,703,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. US Bancorp DE raised its holdings in shares of CoreSite Realty by 6.7% in the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 75 shares in the last quarter. Sei Investments Co. raised its holdings in shares of CoreSite Realty by 0.3% in the 2nd quarter. Sei Investments Co. now owns 8,515 shares of the real estate investment trust’s stock worth $881,000 after buying an additional 28 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of CoreSite Realty by 14.6% in the 2nd quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 174 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of CoreSite Realty by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 17,876 shares of the real estate investment trust’s stock worth $1,851,000 after buying an additional 200 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of CoreSite Realty by 74.8% in the 2nd quarter. First Trust Advisors LP now owns 32,379 shares of the real estate investment trust’s stock worth $3,352,000 after buying an additional 13,859 shares in the last quarter. 97.74% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on COR. Citigroup increased their target price on CoreSite Realty from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Credit Suisse Group set a $111.00 target price on CoreSite Realty and gave the stock a “hold” rating in a report on Friday, October 27th. ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of CoreSite Realty in a report on Tuesday, September 12th. Finally, BidaskClub raised CoreSite Realty from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. CoreSite Realty presently has a consensus rating of “Buy” and a consensus price target of $109.55.
CoreSite Realty (NYSE:COR) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The business had revenue of $123.07 million for the quarter, compared to analyst estimates of $121.27 million. During the same period in the prior year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. equities analysts anticipate that CoreSite Realty Corp will post 4.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 3.47%. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, December 28th. CoreSite Realty’s dividend payout ratio (DPR) is currently 195.65%.
In other CoreSite Realty news, SVP Derek Mccandless sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.37, for a total value of $546,850.00. Following the transaction, the senior vice president now directly owns 36,613 shares in the company, valued at approximately $4,004,363.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the transaction, the chief financial officer now owns 98,562 shares in the company, valued at $10,781,697.18. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
CoreSite Realty Company Profile
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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