New York State Common Retirement Fund increased its stake in CoreSite Realty Corp (NYSE:COR) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,565 shares of the real estate investment trust’s stock after purchasing an additional 4,674 shares during the period. New York State Common Retirement Fund owned 0.26% of CoreSite Realty worth $11,308,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in CoreSite Realty during the 4th quarter valued at approximately $70,377,000. M&G Investment Management Ltd. acquired a new stake in CoreSite Realty during the 4th quarter valued at approximately $58,651,000. Heitman Real Estate Securities LLC acquired a new stake in CoreSite Realty during the 4th quarter valued at approximately $25,800,000. Reaves W H & Co. Inc. lifted its stake in CoreSite Realty by 61.1% during the 4th quarter. Reaves W H & Co. Inc. now owns 406,087 shares of the real estate investment trust’s stock valued at $45,530,000 after acquiring an additional 154,085 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in CoreSite Realty by 183.8% during the 1st quarter. Pacer Advisors Inc. now owns 210,946 shares of the real estate investment trust’s stock valued at $25,155,000 after acquiring an additional 136,621 shares during the period. Institutional investors own 93.66% of the company’s stock.
In other news, CEO Paul E. Szurek sold 5,012 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $95.42, for a total transaction of $478,245.04. Following the completion of the sale, the chief executive officer now owns 174,937 shares of the company’s stock, valued at $16,692,488.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian Warren sold 1,547 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $110.13, for a total transaction of $170,371.11. Following the sale, the senior vice president now directly owns 22,169 shares of the company’s stock, valued at approximately $2,441,471.97. The disclosure for this sale can be found here. In the last three months, insiders sold 2,660,918 shares of company stock valued at $314,741,702. 1.50% of the stock is owned by insiders.
Several brokerages have commented on COR. Credit Suisse Group lifted their price objective on shares of CoreSite Realty from $100.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Bank of America lowered shares of CoreSite Realty from a “neutral” rating to an “underperform” rating and cut their target price for the company from $130.00 to $100.00 in a report on Tuesday, February 11th. Wells Fargo & Co lifted their target price on shares of CoreSite Realty from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Zacks Investment Research lowered shares of CoreSite Realty from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James lowered shares of CoreSite Realty from an “outperform” rating to a “market perform” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $117.50.
Shares of NYSE COR opened at $122.00 on Friday. The firm has a market cap of $4.58 billion, a PE ratio of 23.52, a PEG ratio of 1.12 and a beta of 0.30. The firm has a fifty day moving average of $119.54 and a 200 day moving average of $114.16. The company has a debt-to-equity ratio of 9.56, a quick ratio of 0.17 and a current ratio of 0.17. CoreSite Realty Corp has a one year low of $90.07 and a one year high of $126.40.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.48 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.79). The company had revenue of $147.40 million during the quarter, compared to analysts’ expectations of $146.34 million. CoreSite Realty had a return on equity of 32.98% and a net margin of 12.74%. CoreSite Realty’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. On average, equities analysts predict that CoreSite Realty Corp will post 5.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 4.00%. The ex-dividend date is Monday, June 29th. CoreSite Realty’s payout ratio is presently 95.69%.
CoreSite Realty 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 1,350 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.
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