Is CoreSite Realty Corp (COR) Going to Burn These Hedge Funds?

Seeing as CoreSite Realty Corp (NYSE:COR) has encountered declining sentiment from the entirety of the hedge funds we track, it’s easy to see that there exists a select few fund managers that decided to sell off their full holdings heading into fourth quarter. It’s worth mentioning that Dan Sobol and Lisa Hess’ SkyTop Capital Management got rid of the largest position of all the investors tracked by Insider Monkey, totaling about $3.1 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund dumped about $1 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to CoreSite Realty Corp (NYSE:COR). We will take a look at FireEye Inc (NASDAQ:FEYE), J.C. Penney Company, Inc. (NYSE:JCP), Beacon Roofing Supply, Inc. (NASDAQ:BECN), and MFA Financial, Inc. (NYSE:MFA). This group of stocks’ market values match COR’s market value.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $307 million. That figure was $90 million in COR’s case. Beacon Roofing Supply, Inc. (NASDAQ:BECN) is the most popular stock in this table. On the other hand MFA Financial, Inc. (NYSE:MFA) is the least popular one with only 11 bullish hedge fund positions. CoreSite Realty Corp (NYSE:COR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BECN might be a better candidate to consider taking a long position in.

Disclosure: None