Securian Asset Management Inc lowered its stake in CoreSite Realty Corp (NYSE:COR) by 19.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 20,464 shares of the real estate investment trust’s stock after selling 4,930 shares during the quarter. Securian Asset Management Inc’s holdings in CoreSite Realty were worth $2,357,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in CoreSite Realty by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 345,559 shares of the real estate investment trust’s stock valued at $30,143,000 after purchasing an additional 24,276 shares in the last quarter. Virtu Financial LLC acquired a new stake in CoreSite Realty during the 1st quarter valued at approximately $227,000. Retirement Systems of Alabama grew its stake in CoreSite Realty by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 47,787 shares of the real estate investment trust’s stock valued at $5,114,000 after purchasing an additional 204 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in CoreSite Realty by 32.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 13,195 shares of the real estate investment trust’s stock valued at $1,412,000 after purchasing an additional 3,215 shares in the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in CoreSite Realty during the 1st quarter valued at approximately $238,000. Institutional investors and hedge funds own 91.34% of the company’s stock.
COR has been the subject of a number of recent analyst reports. ValuEngine lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. BMO Capital Markets restated a “hold” rating and set a $112.00 price objective on shares of CoreSite Realty in a research note on Thursday, July 25th. Credit Suisse Group lowered their price objective on CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Raymond James lowered their price objective on CoreSite Realty from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus set a $110.00 price objective on CoreSite Realty and gave the company a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. CoreSite Realty currently has an average rating of “Hold” and an average target price of $112.20.
NYSE:COR traded up $0.13 during trading hours on Friday, reaching $114.32. 8,773 shares of the stock were exchanged, compared to its average volume of 389,995. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 4.74. The firm has a 50 day simple moving average of $112.87 and a 200-day simple moving average of $110.42. CoreSite Realty Corp has a 52 week low of $82.64 and a 52 week high of $121.64. The stock has a market capitalization of $4.17 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.70 and a beta of 0.55.
CoreSite Realty (NYSE:COR) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.75). CoreSite Realty had a return on equity of 24.19% and a net margin of 13.82%. The firm had revenue of $142.91 million for the quarter, compared to the consensus estimate of $142.85 million. During the same period in the prior year, the business earned $1.28 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that CoreSite Realty Corp will post 5.09 earnings per share for the current year.
CoreSite Realty Profile
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.
Further Reading: Leveraged Buyout (LBO) Explained
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