Millennium Management LLC cut its stake in shares of CoreSite (NYSE:COR) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 489,216 shares of the real estate investment trust’s stock after selling 122,193 shares during the period. Millennium Management LLC’s holdings in CoreSite were worth $55,722,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of COR. Atlantic Trust Group LLC acquired a new position in CoreSite during the third quarter valued at approximately $35,764,000. BlackRock Inc. raised its stake in CoreSite by 6.2% in the fourth quarter. BlackRock Inc. now owns 3,362,411 shares of the real estate investment trust’s stock valued at $382,978,000 after buying an additional 196,323 shares during the period. Payden & Rygel raised its stake in CoreSite by 3,343.6% in the third quarter. Payden & Rygel now owns 134,300 shares of the real estate investment trust’s stock valued at $15,028,000 after buying an additional 130,400 shares during the period. Land & Buildings Investment Management LLC bought a new stake in CoreSite in the third quarter valued at approximately $11,391,000. Finally, Nationwide Fund Advisors raised its stake in CoreSite by 193.7% in the third quarter. Nationwide Fund Advisors now owns 150,780 shares of the real estate investment trust’s stock valued at $16,872,000 after buying an additional 99,437 shares during the period. 99.37% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Jeffrey S. Finnin sold 10,396 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $93.30, for a total transaction of $969,946.80. Following the transaction, the chief financial officer now owns 84,827 shares in the company, valued at $7,914,359.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian Warren sold 1,242 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $91.62, for a total value of $113,792.04. Following the transaction, the senior vice president now owns 38,169 shares in the company, valued at approximately $3,497,043.78. The disclosure for this sale can be found here. In the last quarter, insiders have bought 198,000 shares of company stock worth $64,780 and have sold 46,583 shares worth $4,620,060. 1.50% of the stock is currently owned by company insiders.
CoreSite (NYSE:COR) opened at $105.12 on Tuesday. The firm has a market capitalization of $3,637.65, a P/E ratio of 23.55, a PEG ratio of 1.25 and a beta of 0.48. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.27 and a current ratio of 0.27. CoreSite has a 52 week low of $86.47 and a 52 week high of $120.85.
CoreSite (NYSE:COR) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. The company had revenue of $125.95 million for the quarter, compared to analyst estimates of $125.71 million. CoreSite had a return on equity of 16.77% and a net margin of 15.54%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. research analysts expect that CoreSite will post 5 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.73%. CoreSite’s dividend payout ratio (DPR) is currently 213.04%.
Several analysts have issued reports on the company. Raymond James Financial upgraded CoreSite from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. UBS upgraded CoreSite from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. KeyCorp upgraded CoreSite from a “sector weight” rating to an “overweight” rating and upped their price objective for the company from $98.19 to $110.00 in a research note on Monday, March 12th. Robert W. Baird set a $126.00 price objective on CoreSite and gave the company a “buy” rating in a research note on Saturday, March 10th. Finally, Jefferies Group restated a “buy” rating on shares of CoreSite in a research note on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.77.
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CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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