CoreSite Realty Corp (COR) Stake Decreased by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of CoreSite Realty Corp (NYSE:COR) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,920 shares of the real estate investment trust’s stock after selling 3,700 shares during the quarter. California Public Employees Retirement System owned about 0.14% of CoreSite Realty worth $4,442,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in CoreSite Realty by 11.5% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,715 shares of the real estate investment trust’s stock valued at $567,000 after purchasing an additional 691 shares during the last quarter. Green Street Investors LLC raised its position in CoreSite Realty by 42.3% during the 4th quarter. Green Street Investors LLC now owns 41,700 shares of the real estate investment trust’s stock worth $3,637,000 after buying an additional 12,400 shares during the last quarter. Eaton Vance Management raised its position in CoreSite Realty by 29.3% during the 4th quarter. Eaton Vance Management now owns 11,048 shares of the real estate investment trust’s stock worth $964,000 after buying an additional 2,505 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in CoreSite Realty during the 4th quarter worth $541,000. Finally, Piedmont Investment Advisors Inc. raised its position in CoreSite Realty by 36.9% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 3,607 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 973 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Cowen restated a “hold” rating and set a $106.00 price objective on shares of CoreSite Realty in a research report on Sunday, February 10th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of CoreSite Realty in a research report on Thursday, February 7th. Jefferies Financial Group restated a “hold” rating and set a $100.00 price objective on shares of CoreSite Realty in a research report on Friday, February 8th. Finally, JPMorgan Chase & Co. downgraded shares of CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 price objective for the company. in a research report on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. CoreSite Realty presently has a consensus rating of “Hold” and an average target price of $112.00.

In other news, CFO Jeffrey S. Finnin sold 4,020 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $101.04, for a total transaction of $406,180.80. Following the transaction, the chief financial officer now directly owns 74,021 shares of the company’s stock, valued at approximately $7,479,081.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul E. Szurek sold 10,513 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $101.00, for a total transaction of $1,061,813.00. Following the completion of the sale, the chief executive officer now directly owns 141,527 shares in the company, valued at $14,294,227. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,101 shares of company stock worth $2,642,102. Corporate insiders own 1.50% of the company’s stock.

NYSE:COR opened at $103.80 on Friday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.15 and a current ratio of 0.15. CoreSite Realty Corp has a fifty-two week low of $82.64 and a fifty-two week high of $117.82. The firm has a market cap of $3.81 billion, a PE ratio of 20.51, a P/E/G ratio of 1.41 and a beta of 0.74.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.26. CoreSite Realty had a net margin of 14.31% and a return on equity of 20.97%. The business had revenue of $139.10 million for the quarter, compared to analysts’ expectations of $139.89 million. During the same period in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts expect that CoreSite Realty Corp will post 5.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $1.10 per share. The ex-dividend date is Thursday, March 28th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.24%. CoreSite Realty’s dividend payout ratio (DPR) is presently 86.96%.

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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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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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