UBS Asset Management Americas Inc. increased its stake in shares of CoreSite Realty Corp (NYSE:COR) by 11.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,878 shares of the real estate investment trust’s stock after purchasing an additional 3,617 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.10% of CoreSite Realty worth $4,087,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Zions Bancorporation acquired a new stake in CoreSite Realty during the 3rd quarter worth approximately $170,000. Intrust Bank NA acquired a new stake in CoreSite Realty during the 4th quarter worth approximately $200,000. Park Avenue Securities LLC acquired a new stake in CoreSite Realty during the 3rd quarter worth approximately $207,000. Jaffetilchin Investment Partners LLC acquired a new stake in CoreSite Realty during the 4th quarter worth approximately $208,000. Finally, FDx Advisors Inc. acquired a new stake in CoreSite Realty during the 3rd quarter worth approximately $209,000. 99.51% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Jeffrey S. Finnin sold 10,396 shares of CoreSite Realty stock in a transaction on Monday, March 5th. The shares were sold at an average price of $93.30, for a total transaction of $969,946.80. Following the sale, the chief financial officer now directly owns 84,827 shares in the company, valued at approximately $7,914,359.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven James Smith sold 492 shares of CoreSite Realty stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $102.42, for a total transaction of $50,390.64. Following the sale, the senior vice president now owns 36,101 shares in the company, valued at $3,697,464.42. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 198,000 shares of company stock worth $64,780 and sold 43,973 shares worth $4,354,075. 1.50% of the stock is currently owned by company insiders.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. CoreSite Realty had a net margin of 15.54% and a return on equity of 16.77%. The business had revenue of $125.95 million for the quarter, compared to analyst estimates of $125.71 million. During the same period last year, the business earned $1.06 EPS. The company’s revenue was up 14.0% on a year-over-year basis. sell-side analysts anticipate that CoreSite Realty Corp will post 5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.77%. CoreSite Realty’s payout ratio is 213.04%.
COR has been the topic of a number of research reports. Robert W. Baird set a $126.00 target price on shares of CoreSite Realty and gave the stock a “buy” rating in a report on Saturday. Jefferies Group reiterated a “buy” rating on shares of CoreSite Realty in a report on Thursday, February 8th. SunTrust Banks reiterated a “buy” rating and set a $133.00 target price on shares of CoreSite Realty in a report on Thursday, December 7th. TheStreet lowered shares of CoreSite Realty from a “b-” rating to a “c+” rating in a report on Friday, February 9th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of CoreSite Realty in a report on Sunday, February 11th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $112.77.
COPYRIGHT VIOLATION WARNING: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/03/14/coresite-realty-corp-cor-shares-bought-by-ubs-asset-management-americas-inc.html.
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.
Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoreSite Realty Corp (NYSE:COR).
Receive News & Ratings for CoreSite Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreSite Realty and related companies with MarketBeat.com's FREE daily email newsletter.