Picton Mahoney Asset Management Has $2.08 Million Stake in CoreSite Realty Corporation (COR)
Picton Mahoney Asset Management cut its position in CoreSite Realty Corporation (NYSE:COR) by 11.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,100 shares of the real estate investment trust’s stock after selling 2,500 shares during the quarter. Picton Mahoney Asset Management owned 0.06% of CoreSite Realty Corporation worth $2,082,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its holdings in shares of CoreSite Realty Corporation by 53.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,108 shares of the real estate investment trust’s stock worth $1,357,000 after acquiring an additional 4,593 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of CoreSite Realty Corporation by 111.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 49,987 shares of the real estate investment trust’s stock worth $5,175,000 after acquiring an additional 26,307 shares in the last quarter. US Bancorp DE boosted its position in shares of CoreSite Realty Corporation by 6.7% during the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 75 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of CoreSite Realty Corporation during the 1st quarter worth approximately $233,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of CoreSite Realty Corporation during the 1st quarter worth approximately $722,000. Institutional investors own 98.32% of the company’s stock.
CoreSite Realty Corporation (NYSE:COR) traded down 0.47% during mid-day trading on Monday, hitting $111.37. 81,222 shares of the company’s stock were exchanged. CoreSite Realty Corporation has a 12 month low of $64.81 and a 12 month high of $120.85. The stock has a market cap of $3.81 billion, a PE ratio of 64.08 and a beta of 0.56. The stock’s 50 day moving average price is $112.86 and its 200-day moving average price is $102.39.
CoreSite Realty Corporation (NYSE:COR) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The company had revenue of $117.89 million for the quarter, compared to analysts’ expectations of $117.32 million. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. CoreSite Realty Corporation’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Equities analysts expect that CoreSite Realty Corporation will post $1.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.90 dividend. The ex-dividend date is Thursday, September 28th. This represents a $3.60 annualized dividend and a yield of 3.22%. CoreSite Realty Corporation’s dividend payout ratio (DPR) is presently 206.90%.
A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Wednesday, June 28th. BidaskClub cut CoreSite Realty Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and set a $117.00 target price on shares of CoreSite Realty Corporation in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $110.00 target price on shares of CoreSite Realty Corporation in a research note on Thursday, June 8th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $99.64.
In other news, SVP Derek Mccandless sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total value of $1,107,400.00. Following the completion of the transaction, the senior vice president now directly owns 48,913 shares in the company, valued at approximately $5,416,625.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $110.74, for a total value of $885,920.00. Following the completion of the transaction, the chief financial officer now owns 110,493 shares of the company’s stock, valued at $12,235,994.82. The disclosure for this sale can be found here. Insiders sold 21,805 shares of company stock valued at $2,440,331 over the last quarter. 1.50% of the stock is owned by company 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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