CoreSite Realty Corp (COR) Shares Bought by Raymond James & Associates
Raymond James & Associates grew its position in shares of CoreSite Realty Corp (NYSE:COR) by 10.8% in the second quarter, HoldingsChannel reports. The firm owned 77,683 shares of the real estate investment trust’s stock after buying an additional 7,569 shares during the quarter. Raymond James & Associates’ holdings in CoreSite Realty were worth $8,609,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. grew its position in shares of CoreSite Realty by 107.7% during the first quarter. Assetmark Inc. now owns 1,302 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 675 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of CoreSite Realty during the first quarter valued at about $131,000. Zions Bancorporation purchased a new position in shares of CoreSite Realty during the second quarter valued at about $180,000. Oakbrook Investments LLC purchased a new position in shares of CoreSite Realty during the second quarter valued at about $202,000. Finally, Brookstone Capital Management purchased a new position in shares of CoreSite Realty during the second quarter valued at about $215,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.
Shares of NYSE:COR opened at $115.87 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 2.68. CoreSite Realty Corp has a 12 month low of $89.76 and a 12 month high of $119.59. The stock has a market capitalization of $3.99 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Thursday, September 27th. CoreSite Realty’s payout ratio is 91.15%.
A number of research analysts have recently weighed in on the company. Berenberg Bank assumed coverage on CoreSite Realty in a research report on Thursday. They set a “buy” rating and a $153.00 price objective for the company. Royal Bank of Canada raised their price objective on CoreSite Realty to $123.00 and gave the company an “average” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Credit Suisse Group set a $112.00 price objective on CoreSite Realty and gave the company a “hold” rating in a research report on Sunday, August 5th. Citigroup raised their price objective on CoreSite Realty from $105.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, Zacks Investment Research raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a report on Friday, July 27th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $121.27.
In other CoreSite Realty news, CEO Paul E. Szurek sold 3,588 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $114.15, for a total value of $409,570.20. Following the completion of the sale, the chief executive officer now owns 147,075 shares of the company’s stock, valued at $16,788,611.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Realty Iii Gp L.L.C. Carlyle sold 2,250,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total transaction of $251,797,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,265,188 shares of company stock valued at $253,540,426. 1.50% of the stock is owned by insiders.
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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