New York State Teachers Retirement System decreased its stake in CoreSite Realty Corp (NYSE:COR) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,153 shares of the real estate investment trust’s stock after selling 3,200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.23% of CoreSite Realty worth $9,113,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc lifted its position in shares of CoreSite Realty by 4.0% in the third quarter. Vanguard Group Inc now owns 5,337,300 shares of the real estate investment trust’s stock worth $593,187,000 after purchasing an additional 204,628 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in CoreSite Realty by 3.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,980 shares of the real estate investment trust’s stock worth $871,000 after buying an additional 300 shares during the last quarter. Strs Ohio increased its holdings in CoreSite Realty by 77.8% during the fourth quarter. Strs Ohio now owns 89,177 shares of the real estate investment trust’s stock worth $7,778,000 after buying an additional 39,015 shares during the last quarter. Fisher Asset Management LLC increased its holdings in CoreSite Realty by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 289,392 shares of the real estate investment trust’s stock worth $25,244,000 after buying an additional 2,181 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new position in CoreSite Realty during the fourth quarter worth $2,540,000. Institutional investors and hedge funds own 94.48% of the company’s stock.
A number of equities analysts recently weighed in on COR shares. ValuEngine upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus set a $105.00 target price on shares of CoreSite Realty and gave the stock a “hold” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. CoreSite Realty presently has a consensus rating of “Hold” and an average price target of $109.91.
COR traded down $0.24 on Friday, hitting $114.94. 183,105 shares of the stock were exchanged, compared to its average volume of 286,076. CoreSite Realty Corp has a 12 month low of $82.64 and a 12 month high of $120.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 3.95. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.69 and a beta of 0.63.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.04). The firm had revenue of $138.90 million for the quarter, compared to the consensus estimate of $140.06 million. CoreSite Realty had a return on equity of 22.25% and a net margin of 13.96%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. Sell-side analysts anticipate that CoreSite Realty Corp will post 5.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $1.22 dividend. The ex-dividend date is Thursday, June 27th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.10. CoreSite Realty’s dividend payout ratio is 86.96%.
In other news, SVP Derek Mccandless sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $114.30, for a total value of $685,800.00. Following the completion of the transaction, the senior vice president now owns 29,531 shares of the company’s stock, valued at $3,375,393.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark R. Jones sold 500 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $119.15, for a total value of $59,575.00. Following the completion of the transaction, the insider now directly owns 15,382 shares of the company’s stock, valued at approximately $1,832,765.30. The disclosure for this sale can be found here. Insiders sold 9,832 shares of company stock valued at $1,114,418 in the last three months. Company insiders own 1.20% of the company’s stock.
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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