Wells Fargo & Company MN decreased its stake in CoreSite Realty Corp (NYSE:COR) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,642,624 shares of the real estate investment trust’s stock after selling 72,790 shares during the period. Wells Fargo & Company MN owned about 4.48% of CoreSite Realty worth $182,562,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bridgeworth LLC bought a new position in shares of CoreSite Realty in the 2nd quarter worth $166,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of CoreSite Realty in the 2nd quarter worth $166,000. Capital Advisors Ltd. LLC bought a new position in shares of CoreSite Realty in the 3rd quarter worth $169,000. Zions Bancorporation bought a new position in shares of CoreSite Realty in the 2nd quarter worth $180,000. Finally, Oakbrook Investments LLC bought a new position in shares of CoreSite Realty in the 2nd quarter worth $202,000. 90.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE COR opened at $95.99 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.21 and a quick ratio of 0.21. CoreSite Realty Corp has a 12 month low of $88.37 and a 12 month high of $119.59. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.24 and a beta of 0.55.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.72). CoreSite Realty had a return on equity of 20.18% and a net margin of 14.91%. The company had revenue of $139.18 million during the quarter, compared to the consensus estimate of $138.10 million. Equities research analysts expect that CoreSite Realty Corp will post 5.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a $1.03 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $4.12 annualized dividend and a yield of 4.29%. CoreSite Realty’s dividend payout ratio (DPR) is presently 91.15%.
A number of brokerages have recently commented on COR. Cowen lowered shares of CoreSite Realty from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $115.00 to $107.00 in a report on Monday, September 24th. Citigroup upped their price objective on shares of CoreSite Realty from $105.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Credit Suisse Group set a $112.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a research note on Saturday, July 28th. Zacks Investment Research raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. Finally, Berenberg Bank began coverage on shares of CoreSite Realty in a research note on Thursday, September 20th. They issued a “buy” rating and a $153.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $119.15.
In other CoreSite Realty news, insider Mark R. Jones sold 600 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $95.29, for a total value of $57,174.00. Following the completion of the transaction, the insider now directly owns 15,621 shares in the company, valued at approximately $1,488,525.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul E. Szurek sold 3,588 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $114.15, for a total transaction of $409,570.20. Following the completion of the transaction, the chief executive officer now owns 147,075 shares of the company’s stock, valued at $16,788,611.25. The disclosure for this sale can be found here. Insiders sold a total of 5,350 shares of company stock valued at $580,721 over the last 90 days. Company insiders own 1.50% of the company’s stock.
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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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