Public Employees Retirement Association of Colorado reduced its stake in CoreSite Realty Corp (NYSE:COR) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,017 shares of the real estate investment trust’s stock after selling 12,000 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.42% of CoreSite Realty worth $17,968,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of COR. Tortoise Index Solutions LLC acquired a new position in CoreSite Realty in the first quarter valued at approximately $28,000. Bremer Bank National Association acquired a new position in CoreSite Realty in the first quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC acquired a new position in CoreSite Realty in the second quarter valued at approximately $51,000. Private Capital Group LLC lifted its stake in CoreSite Realty by 28.1% in the first quarter. Private Capital Group LLC now owns 702 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 154 shares during the period. Finally, Institutional & Family Asset Management LLC lifted its stake in CoreSite Realty by 33.3% in the first quarter. Institutional & Family Asset Management LLC now owns 800 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 200 shares during the period. 93.51% of the stock is currently owned by institutional investors.
In related news, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.74, for a total transaction of $88,592,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark R. Jones sold 500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $119.15, for a total value of $59,575.00. Following the sale, the insider now owns 15,382 shares of the company’s stock, valued at approximately $1,832,765.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 816,295 shares of company stock valued at $90,463,675. Corporate insiders own 1.20% of the company’s stock.
Several equities analysts have issued reports on COR shares. BMO Capital Markets reissued a “hold” rating and issued a $112.00 price target on shares of CoreSite Realty in a research note on Thursday, July 25th. Credit Suisse Group dropped their price target on CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. ValuEngine lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Raymond James dropped their price target on CoreSite Realty from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus set a $110.00 price target on CoreSite Realty and gave the company a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $112.20.
Shares of NYSE COR traded down $0.14 during midday trading on Wednesday, hitting $109.93. 1,922 shares of the stock traded hands, compared to its average volume of 297,422. The company has a market capitalization of $4.05 billion, a P/E ratio of 21.73, a PEG ratio of 1.68 and a beta of 0.55. CoreSite Realty Corp has a one year low of $82.64 and a one year high of $121.64. The company’s 50 day moving average is $113.46. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 4.74.
CoreSite Realty (NYSE:COR) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.75). The firm had revenue of $142.91 million for the quarter, compared to the consensus estimate of $142.85 million. CoreSite Realty had a net margin of 13.82% and a return on equity of 24.19%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. Research analysts predict that CoreSite Realty Corp will post 5.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $1.22 per share. This is an increase from CoreSite Realty’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, June 27th. This represents a $4.88 annualized dividend and a dividend yield of 4.44%. CoreSite Realty’s payout ratio is currently 96.44%.
CoreSite Realty Company 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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