5 Best Data Center REIT Dividend Stocks to Buy

2. CoreSite Realty Corporation (NYSE: COR)

Number of Hedge Fund Holders: 16
Dividend Yield: 3.29%

CoreSite Realty Corporation (NYSE: COR) works to deliver secure, high-performance, and reliable data center, cloud access, and interconnection solutions across eight North American markets. The company ranks 2nd on our list of the best data center REIT dividend stocks to buy.

Barclays raised the price target on shares of CoreSite Realty Corporation (NYSE: COR) from $118 to $123 this August.

In the second quarter of 2021, CoreSite Realty Corporation (NYSE: COR) had an FFO of $1.42, beating estimates by $0.06. The company’s revenue was $162.12 million, up 7.69% year over year and beating estimates by $2.21 million. CoreSite Realty Corporation (NYSE: COR) has gained 41.26% in the past 6 months and 27.08% year to date.

By the end of the second quarter of 2021, 16 hedge funds out of the 873 tracked by Insider Monkey held stakes in CoreSite Realty Corporation (NYSE: COR) worth roughly $198 million. This is compared to 15 hedge funds in the previous quarter with a total stake value of approximately $173 million.

Baron Funds, an asset management firm, mentioned CoreSite Realty Corporation (NYSE: COR) in its second-quarter 2021 investor letter. Here’s what they said:

“CoreSite Realty Corporation: CoreSite is a REIT that operates a highquality real estate portfolio of 25 well-located real estate data centers in eight markets in the U.S. We believe the company is poised for a positive inflection in cash flow growth in the next few years. In our opinion, the shares are attractively valued relative to its public data center peers and recent private market transactions.”