CoreSite Realty Corporation (COR) Shares Bought by Garrison Financial Corp
Garrison Financial Corp boosted its stake in CoreSite Realty Corporation (NYSE:COR) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 3,115 shares of the real estate investment trust’s stock after buying an additional 25 shares during the period. Garrison Financial Corp’s holdings in CoreSite Realty Corporation were worth $322,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in CoreSite Realty Corporation by 203.8% in the first quarter. IFP Advisors Inc now owns 1,188 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 797 shares during the last quarter. US Bancorp DE boosted its position in CoreSite Realty Corporation by 6.7% in the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 75 shares during the last quarter. LS Investment Advisors LLC boosted its position in CoreSite Realty Corporation by 4.6% in the second quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 56 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in CoreSite Realty Corporation by 115.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,461 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 783 shares during the last quarter. Finally, Covenant Asset Management LLC purchased a new position in CoreSite Realty Corporation during the second quarter valued at $207,000.
Shares of CoreSite Realty Corporation (NYSE:COR) opened at 106.66 on Friday. CoreSite Realty Corporation has a 52-week low of $64.81 and a 52-week high of $113.55. The firm’s 50-day moving average is $105.81 and its 200 day moving average is $97.16. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 61.37 and a beta of 0.57.
CoreSite Realty Corporation (NYSE:COR) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. The firm had revenue of $117.89 million for the quarter, compared to the consensus estimate of $117.32 million. During the same period in the previous year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 22.7% on a year-over-year basis. Equities analysts expect that CoreSite Realty Corporation will post $1.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.90 per share. The ex-dividend date was Wednesday, June 28th. This is a boost from CoreSite Realty Corporation’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.38%. CoreSite Realty Corporation’s payout ratio is currently 206.90%.
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COR has been the topic of a number of research analyst reports. BidaskClub cut CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised CoreSite Realty Corporation from a “sell” rating to a “hold” rating and set a $124.00 target price on the stock in a research note on Monday, July 31st. Credit Suisse Group initiated coverage on CoreSite Realty Corporation in a research note on Friday, June 30th. They issued a “neutral” rating and a $103.00 target price on the stock. Macquarie reissued a “hold” rating and issued a $84.00 target price on shares of CoreSite Realty Corporation in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of CoreSite Realty Corporation in a research note on Tuesday, July 18th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $98.00.
In related news, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total transaction of $885,920.00. Following the completion of the transaction, the chief financial officer now directly owns 110,493 shares of the company’s stock, valued at approximately $12,235,994.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Derek Mccandless sold 10,000 shares of CoreSite Realty Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total transaction of $1,107,400.00. Following the transaction, the senior vice president now directly owns 48,913 shares of the company’s stock, valued at $5,416,625.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,000 shares of company stock valued at $3,048,120. 3.10% of the stock is owned by corporate insiders.
About CoreSite Realty Corporation
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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