Stevens Capital Management LP Invests $1.17 Million in CoreSite (COR) Stock

Stevens Capital Management LP purchased a new stake in shares of CoreSite (NYSE:COR) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,685 shares of the real estate investment trust’s stock, valued at approximately $1,172,000.

A number of other hedge funds also recently added to or reduced their stakes in COR. BlackRock Inc. boosted its stake in CoreSite by 6.2% during the 4th quarter. BlackRock Inc. now owns 3,362,411 shares of the real estate investment trust’s stock valued at $382,978,000 after purchasing an additional 196,323 shares during the last quarter. Wells Fargo & Company MN boosted its stake in CoreSite by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,768,110 shares of the real estate investment trust’s stock valued at $201,387,000 after purchasing an additional 65,560 shares during the last quarter. Guggenheim Capital LLC boosted its stake in CoreSite by 110.1% during the 4th quarter. Guggenheim Capital LLC now owns 121,067 shares of the real estate investment trust’s stock valued at $13,791,000 after purchasing an additional 63,440 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new position in CoreSite during the 1st quarter valued at about $5,795,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in CoreSite by 299.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 70,552 shares of the real estate investment trust’s stock valued at $8,036,000 after purchasing an additional 52,897 shares during the last quarter. Institutional investors and hedge funds own 97.53% of the company’s stock.

In related news, SVP Brian Warren sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $91.62, for a total value of $113,792.04. Following the transaction, the senior vice president now owns 38,169 shares in the company, valued at $3,497,043.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeffrey S. Finnin sold 10,396 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $93.30, for a total value of $969,946.80. Following the completion of the transaction, the chief financial officer now owns 84,827 shares in the company, valued at approximately $7,914,359.10. The disclosure for this sale can be found here. Insiders sold a total of 44,948 shares of company stock worth $4,381,585 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Shares of NYSE COR opened at $103.24 on Tuesday. CoreSite has a twelve month low of $89.76 and a twelve month high of $120.85. The company has a market capitalization of $3.54 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.20 and a beta of 0.39. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.45.

CoreSite (NYSE:COR) last announced its earnings results on Thursday, April 26th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.64). CoreSite had a return on equity of 17.91% and a net margin of 15.46%. The business had revenue of $129.60 million during the quarter, compared to analysts’ expectations of $129.43 million. During the same quarter in the previous year, the firm earned $1.13 EPS. CoreSite’s quarterly revenue was up 12.8% on a year-over-year basis. analysts forecast that CoreSite will post 5.04 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. TheStreet upgraded CoreSite from a “c+” rating to a “b-” rating in a research note on Tuesday, May 15th. Credit Suisse Group lifted their price target on CoreSite from $107.00 to $112.00 and gave the company a “hold” rating in a research note on Friday, April 27th. Moffett Nathanson assumed coverage on CoreSite in a research note on Monday, April 9th. They set a “buy” rating and a $125.00 price target for the company. KeyCorp upgraded CoreSite from a “sector weight” rating to an “overweight” rating and lifted their price target for the company from $98.19 to $110.00 in a research note on Monday, March 12th. Finally, Raymond James upgraded CoreSite from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $115.54.

CoreSite Company Profile

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 1,250 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.

Institutional Ownership by Quarter for CoreSite (NYSE:COR)

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