Pensionfund Sabic grew its stake in shares of CoreSite Realty Co. (NYSE:COR) by 20.7% in the first quarter, Holdings Channel reports. The fund owned 7,000 shares of the real estate investment trust’s stock after acquiring an additional 1,200 shares during the quarter. Pensionfund Sabic’s holdings in CoreSite Realty were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. SWS Partners boosted its holdings in CoreSite Realty by 11.9% in the 4th quarter. SWS Partners now owns 8,410 shares of the real estate investment trust’s stock worth $1,054,000 after buying an additional 896 shares during the period. Legacy Wealth Asset Management LLC bought a new position in CoreSite Realty in the 4th quarter worth approximately $333,000. DekaBank Deutsche Girozentrale boosted its holdings in CoreSite Realty by 1,581.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 14,027 shares of the real estate investment trust’s stock worth $1,726,000 after buying an additional 13,193 shares during the period. SOA Wealth Advisors LLC. bought a new position in CoreSite Realty in the 4th quarter worth approximately $449,000. Finally, Dimensional Fund Advisors LP boosted its holdings in CoreSite Realty by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 616,259 shares of the real estate investment trust’s stock worth $77,203,000 after buying an additional 4,998 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the stock. Cowen raised shares of CoreSite Realty from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $152.00 in a report on Tuesday, February 2nd. Zacks Investment Research raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a report on Monday. Credit Suisse Group cut their price target on shares of CoreSite Realty from $161.00 to $156.00 and set an “outperform” rating for the company in a report on Friday, February 5th. Wells Fargo & Company downgraded shares of CoreSite Realty from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $120.00 to $115.00 in a report on Thursday, December 10th. Finally, Mizuho cut their price target on shares of CoreSite Realty from $135.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, March 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. CoreSite Realty has a consensus rating of “Hold” and a consensus price target of $130.60.
In related news, CEO Paul E. Szurek sold 14,788 shares of CoreSite Realty stock in a transaction on Thursday, March 4th. The shares were sold at an average price of $108.68, for a total value of $1,607,159.84. Following the transaction, the chief executive officer now owns 202,998 shares in the company, valued at approximately $22,061,822.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Aleksandra Krusko sold 301 shares of CoreSite Realty stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $115.89, for a total transaction of $34,882.89. Following the completion of the transaction, the senior vice president now owns 8,165 shares in the company, valued at approximately $946,241.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,657 shares of company stock worth $4,708,727. Corporate insiders own 1.50% of the company’s stock.
CoreSite Realty stock opened at $121.47 on Thursday. The firm’s fifty day moving average price is $118.39 and its 200-day moving average price is $122.69. The company has a debt-to-equity ratio of 16.41, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a market cap of $5.22 billion, a P/E ratio of 60.43, a price-to-earnings-growth ratio of 1.04 and a beta of 0.23. CoreSite Realty Co. has a fifty-two week low of $107.23 and a fifty-two week high of $141.50.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.86). The company had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.71 million. CoreSite Realty had a net margin of 13.19% and a return on equity of 51.47%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. On average, analysts predict that CoreSite Realty Co. will post 5.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Tuesday, March 30th. CoreSite Realty’s dividend payout ratio (DPR) is currently 96.47%.
CoreSite Realty Profile
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 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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