Beacon Financial Group Lowers stake in CoreSite Realty Corp (COR)

CoreSite Realty Corp (COR) : Beacon Financial Group reduced its stake in CoreSite Realty Corp by 2.92% during the most recent quarter end. The investment management company now holds a total of 10,143 shares of CoreSite Realty Corp which is valued at $709,706 after selling 305 shares in CoreSite Realty Corp according to a report filed by the company on Apr 1, 2016 with the SEC.CoreSite Realty Corp makes up approximately 0.15% of Beacon Financial Group’s portfolio.

On the company’s financial health, CoreSite Realty Corp reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.78. The company had revenue of $90.92 million for the quarter, compared to analysts expectations of $86.23 million. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on CoreSite Realty Corp. Company shares were Reiterated by RBC Capital Mkts on Feb 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $64 .

CoreSite Realty Corp opened for trading at $71.06 and hit $71.17 on the upside on Monday, eventually ending the session at $70.84, with a gain of 0.13% or 0.09 points. The heightened volatility saw the trading volume jump to 1,78,079 shares. Company has a market cap of $2,171 M.

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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