CoreSite Realty Corporation (COR) SVP Derek Mccandless Sells 5,000 Shares
CoreSite Realty Corporation (NYSE:COR) SVP Derek Mccandless sold 5,000 shares of CoreSite Realty Corporation stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total transaction of $546,850.00. Following the completion of the transaction, the senior vice president now directly owns 36,613 shares in the company, valued at approximately $4,004,363.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of CoreSite Realty Corporation (COR) traded up $4.35 during mid-day trading on Friday, hitting $112.60. 332,447 shares of the stock were exchanged, compared to its average volume of 378,542. The firm has a market capitalization of $3.79 billion, a P/E ratio of 25.24 and a beta of 0.43.
CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.64). The business had revenue of $123.07 million during the quarter, compared to the consensus estimate of $121.27 million. CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. sell-side analysts forecast that CoreSite Realty Corporation will post 4.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, September 28th. CoreSite Realty Corporation’s dividend payout ratio is presently 195.65%.
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A number of research analysts have weighed in on the stock. BidaskClub lowered shares of CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Credit Suisse Group set a $111.00 price target on shares of CoreSite Realty Corporation and gave the company a “hold” rating in a research note on Friday, October 27th. J P Morgan Chase & Co assumed coverage on shares of CoreSite Realty Corporation in a research note on Monday, September 25th. They issued a “neutral” rating and a $118.00 price target on the stock. Zacks Investment Research raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, September 27th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $111.00 price target on shares of CoreSite Realty Corporation in a research note on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $107.20.
Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in shares of CoreSite Realty Corporation in the second quarter worth $103,000. US Bancorp DE lifted its position in shares of CoreSite Realty Corporation by 6.7% in the second quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 75 shares in the last quarter. LS Investment Advisors LLC increased its holdings in CoreSite Realty Corporation by 4.6% during the second quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 56 shares during the last quarter. IFP Advisors Inc increased its holdings in CoreSite Realty Corporation by 14.6% during the second quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 174 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in CoreSite Realty Corporation by 115.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,461 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 783 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.
CoreSite Realty Corporation Company Profile
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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