Envestnet Asset Management Inc. raised its stake in CoreSite Realty Corp (NYSE:COR) by 77.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,077 shares of the real estate investment trust’s stock after buying an additional 4,392 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CoreSite Realty were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in COR. OxFORD Asset Management LLP boosted its stake in shares of CoreSite Realty by 139.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 26,884 shares of the real estate investment trust’s stock worth $2,996,000 after acquiring an additional 15,638 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CoreSite Realty by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 499,857 shares of the real estate investment trust’s stock worth $55,932,000 after acquiring an additional 22,342 shares during the period. Boston Private Wealth LLC boosted its stake in shares of CoreSite Realty by 12.1% during the 3rd quarter. Boston Private Wealth LLC now owns 11,324 shares of the real estate investment trust’s stock worth $1,267,000 after acquiring an additional 1,222 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in CoreSite Realty by 20.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 133,969 shares of the real estate investment trust’s stock valued at $14,992,000 after purchasing an additional 22,486 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in CoreSite Realty by 4.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,702,550 shares of the real estate investment trust’s stock valued at $190,516,000 after purchasing an additional 70,274 shares during the period. 97.74% of the stock is currently owned by institutional investors.
CoreSite Realty Corp (NYSE COR) traded down $1.10 during mid-day trading on Thursday, reaching $108.70. The company had a trading volume of 343,926 shares, compared to its average volume of 334,128. The firm has a market cap of $5,210.00, a P/E ratio of 59.08, a P/E/G ratio of 1.31 and a beta of 0.44. CoreSite Realty Corp has a fifty-two week low of $81.63 and a fifty-two week high of $120.85. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 3.61%. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, December 28th. CoreSite Realty’s dividend payout ratio is 213.04%.
In other news, SVP Steven James Smith sold 7,121 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total value of $802,750.33. Following the completion of the transaction, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at $5,426,484.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the sale, the chief financial officer now owns 98,562 shares in the company, valued at approximately $10,781,697.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,121 shares of company stock valued at $2,224,720. 1.50% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on the company. Mitsubishi UFJ Financial Group started coverage on CoreSite Realty in a report on Wednesday. They set an “overweight” rating and a $124.00 price target for the company. SunTrust Banks restated a “buy” rating and set a $133.00 price objective on shares of CoreSite Realty in a research report on Thursday, December 7th. ValuEngine lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Credit Suisse Group set a $111.00 price target on CoreSite Realty and gave the company a “hold” rating in a research report on Friday, October 27th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $110.75.
About CoreSite Realty
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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