CoreSite Realty Co. (NYSE:COR) Position Cut by AGF Investments LLC

AGF Investments LLC trimmed its stake in CoreSite Realty Co. (NYSE:COR) by 14.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,759 shares of the real estate investment trust’s stock after selling 803 shares during the quarter. AGF Investments LLC’s holdings in CoreSite Realty were worth $659,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. bought a new stake in CoreSite Realty in the third quarter valued at $26,000. Evermay Wealth Management LLC bought a new stake in CoreSite Realty in the second quarter valued at $27,000. Spire Wealth Management raised its stake in shares of CoreSite Realty by 33.3% during the third quarter. Spire Wealth Management now owns 400 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 100 shares in the last quarter. Sawyer & Company Inc bought a new stake in shares of CoreSite Realty during the third quarter valued at about $55,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of CoreSite Realty during the third quarter valued at about $56,000. Institutional investors own 95.09% of the company’s stock.

Shares of COR opened at $169.41 on Friday. The business’s 50-day moving average price is $169.34 and its 200 day moving average price is $152.09. The stock has a market capitalization of $7.49 billion, a P/E ratio of 82.24, a P/E/G ratio of 1.39 and a beta of 0.26. CoreSite Realty Co. has a 1-year low of $107.23 and a 1-year high of $173.57. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 80.93.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, October 28th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.87). The company had revenue of $163.86 million during the quarter, compared to analysts’ expectations of $164.93 million. CoreSite Realty had a return on equity of 266.08% and a net margin of 13.87%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. On average, research analysts predict that CoreSite Realty Co. will post 5.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 13th. Investors of record on Thursday, December 2nd were paid a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, December 1st. This represents a $5.08 dividend on an annualized basis and a yield of 3.00%. CoreSite Realty’s dividend payout ratio is currently 246.60%.

In other CoreSite Realty news, SVP Brian Warren sold 850 shares of CoreSite Realty stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $153.62, for a total transaction of $130,577.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey S. Finnin sold 4,000 shares of CoreSite Realty stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $144.91, for a total value of $579,640.00. The disclosure for this sale can be found here. Insiders sold a total of 5,600 shares of company stock worth $821,210 in the last three months. 1.40% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on COR. Credit Suisse Group cut shares of CoreSite Realty from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $158.00 to $170.00 in a research note on Tuesday, November 16th. Barclays upgraded shares of CoreSite Realty from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, November 16th. Evercore ISI began coverage on shares of CoreSite Realty in a research note on Tuesday, October 26th. They set a “positive” rating and a $154.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of CoreSite Realty from $145.00 to $170.00 and gave the company a “hold” rating in a research note on Monday, November 15th. They noted that the move was a valuation call. Finally, Royal Bank of Canada lifted their price objective on shares of CoreSite Realty from $136.00 to $170.00 and gave the company a “sector perform” rating in a research note on Friday, November 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CoreSite Realty presently has a consensus rating of “Hold” and a consensus target price of $157.21.

CoreSite Realty Company Profile

CoreSite Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, construction and operation of strategically located data centers. The firm also offers collocation and interconnection solutions for networks, cloud services, and industry solutions. The company was founded in 2001 and is headquartered in Denver, CO.

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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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