Friedberg Investment Management Lowers stake in CoreSite Realty Corp (COR)

CoreSite Realty Corp (COR) : Friedberg Investment Management reduced its stake in CoreSite Realty Corp by 0.7% during the most recent quarter end. The investment management company now holds a total of 109,620 shares of CoreSite Realty Corp which is valued at $8,992,129 after selling 770 shares in CoreSite Realty Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.CoreSite Realty Corp makes up approximately 4.15% of Friedberg Investment Management’s portfolio.

Other Hedge Funds, Including , American Assets Capital Advisers added COR to its portfolio by purchasing 40,036 company shares during the most recent quarter which is valued at $3,284,153. CoreSite Realty Corp makes up approx 2.06% of American Assets Capital Advisers’s portfolio.Gerstein Fisher reduced its stake in COR by selling 13,304 shares or 30.2% in the most recent quarter. The Hedge Fund company now holds 30,748 shares of COR which is valued at $2,452,768. CoreSite Realty Corp makes up approx 0.31% of Gerstein Fisher’s portfolio.Dana Investment Advisors boosted its stake in COR in the latest quarter, The investment management firm added 5,489 additional shares and now holds a total of 33,722 shares of CoreSite Realty Corp which is valued at $2,686,295. CoreSite Realty Corp makes up approx 0.12% of Dana Investment Advisors’s portfolio.Great West Life Assurance Co Can boosted its stake in COR in the latest quarter, The investment management firm added 36,436 additional shares and now holds a total of 39,806 shares of CoreSite Realty Corp which is valued at $3,187,664. CoreSite Realty Corp makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.Duff Phelps Investment Management Co boosted its stake in COR in the latest quarter, The investment management firm added 163,950 additional shares and now holds a total of 437,800 shares of CoreSite Realty Corp which is valued at $36,131,634. CoreSite Realty Corp makes up approx 0.54% of Duff Phelps Investment Management Co’s portfolio.

CoreSite Realty Corp opened for trading at $81.31 and hit $81.89 on the upside on Friday, eventually ending the session at $81.79, with a gain of 0.60% or 0.49 points. The heightened volatility saw the trading volume jump to 4,05,018 shares. Company has a market cap of $2,775 M.

On the company’s financial health, CoreSite Realty Corp reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.85. The company had revenue of $96.10 million for the quarter, compared to analysts expectations of $96.05 million. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on CoreSite Realty Corp. Shares were Reiterated by Stifel on Jul 29, 2016 to “Sell” and Lowered the Price Target to $ 75 from a previous price target of $79 .Stifel Downgraded CoreSite Realty Corp on Jul 11, 2016 to ” Sell”, Price Target of the shares are set at $79.Canaccord Genuity Initiated CoreSite Realty Corp on Jun 7, 2016 to “Buy”, Price Target of the shares are set at $92.

CoreSite Realty Corporation (CoreSite) is an integrated self-administered and self-managed real estate investment trust (REIT). CoreSite L.P. (Operating Partnership) is a limited partnership of which the Company is the sole general partner. Through its controlling interest in CoreSite L.P. the Company is engaged in the business of ownership acquisition construction and management of data centers across a range of markets in the United States including the New York; Northern Virginia which include Washington D.C.; San Francisco Bay areas; Los Angeles; Chicago; Boston; Miami and Denver. The Company offers its solutions to approximately 800 enterprises network operators cloud providers and supporting service providers. The Company’s property portfolio includes approximately 16 operating data center facilities development projects space and land held for development which collectively consists of approximately 2.7 million net rentable square feet.

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