Pearl River Capital LLC raised its position in CoreSite Realty Corp (NYSE:COR) by 1,267.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,799 shares of the real estate investment trust’s stock after purchasing an additional 4,448 shares during the period. Pearl River Capital LLC’s holdings in CoreSite Realty were worth $581,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. C M Bidwell & Associates Ltd. acquired a new stake in shares of CoreSite Realty in the 1st quarter valued at about $42,000. Meeder Asset Management Inc. acquired a new stake in CoreSite Realty in the first quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale bought a new stake in shares of CoreSite Realty during the second quarter valued at approximately $66,000. Financial Management Professionals Inc. acquired a new position in shares of CoreSite Realty during the second quarter worth approximately $73,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of CoreSite Realty in the 1st quarter worth $74,000. 94.09% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE COR traded up $1.40 during midday trading on Thursday, reaching $123.06. The company’s stock had a trading volume of 10,335 shares, compared to its average volume of 345,221. The stock has a market capitalization of $5.32 billion, a P/E ratio of 62.51, a PEG ratio of 1.15 and a beta of 0.29. The company has a debt-to-equity ratio of 12.28, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50 day moving average price of $124.17 and a 200-day moving average price of $118.10. CoreSite Realty Corp has a 12-month low of $90.07 and a 12-month high of $130.56.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.07. CoreSite Realty had a return on equity of 39.91% and a net margin of 12.77%. The business had revenue of $150.54 million for the quarter, compared to analyst estimates of $149.87 million. During the same period last year, the company posted $1.27 earnings per share. CoreSite Realty’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that CoreSite Realty Corp will post 5.22 EPS for the current year.
In related news, Director Michael R. Koehler sold 8,750 shares of CoreSite Realty stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $128.02, for a total value of $1,120,175.00. Following the sale, the director now owns 1,344 shares of the company’s stock, valued at approximately $172,058.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Realty V. Gp L.L.C. Carlyle sold 230,172 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $128.55, for a total value of $29,588,610.60. The disclosure for this sale can be found here. Insiders have sold a total of 2,251,717 shares of company stock worth $281,447,061 over the last quarter. Company insiders own 1.50% of the company’s stock.
COR has been the subject of a number of recent research reports. Raymond James upgraded shares of CoreSite Realty from a “market perform” rating to an “outperform” rating and set a $136.00 price target for the company in a research note on Thursday, August 6th. Royal Bank of Canada boosted their target price on shares of CoreSite Realty from $126.00 to $133.00 and gave the stock a “sector perform” rating in a research report on Monday. Wells Fargo & Co raised their price target on shares of CoreSite Realty from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Credit Suisse Group boosted their price objective on CoreSite Realty from $124.00 to $141.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, William Blair reissued an “outperform” rating on shares of CoreSite Realty in a research note on Thursday, July 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $122.50.
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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