Asset Management One Co. Ltd. lowered its holdings in CoreSite Realty Corp (NYSE:COR) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,857 shares of the real estate investment trust’s stock after selling 16,024 shares during the quarter. Asset Management One Co. Ltd. owned about 0.22% of CoreSite Realty worth $7,505,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of COR. Financial Gravity Companies Inc. acquired a new position in CoreSite Realty in the fourth quarter worth $183,000. Intrust Bank NA acquired a new position in CoreSite Realty in the fourth quarter worth $200,000. Jefferies Group LLC acquired a new position in CoreSite Realty in the fourth quarter worth $210,000. Eagle Boston Investment Management Inc. acquired a new position in CoreSite Realty in the fourth quarter worth $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CoreSite Realty by 43.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,960 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 596 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.
In other CoreSite Realty news, CFO Jeffrey S. Finnin sold 8,000 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $104.65, for a total value of $837,200.00. Following the transaction, the chief financial officer now owns 81,137 shares of the company’s stock, valued at $8,490,987.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark R. Jones sold 600 shares of the stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $107.60, for a total value of $64,560.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,821 shares in the company, valued at approximately $1,809,939.60. The disclosure for this sale can be found here. Insiders sold 17,350 shares of company stock worth $1,832,860 in the last three months. Insiders own 1.50% of the company’s stock.
CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, April 26th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.64). CoreSite Realty had a net margin of 15.46% and a return on equity of 17.91%. The company had revenue of $129.60 million during the quarter, compared to analyst estimates of $129.43 million. During the same period in the previous year, the company posted $1.13 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. research analysts anticipate that CoreSite Realty Corp will post 5.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a $1.03 dividend. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $4.12 annualized dividend and a yield of 3.78%. CoreSite Realty’s dividend payout ratio is presently 86.73%.
A number of research firms have commented on COR. TheStreet raised CoreSite Realty from a “c+” rating to a “b-” rating in a research note on Tuesday, May 15th. Credit Suisse Group boosted their price objective on CoreSite Realty from $107.00 to $112.00 and gave the stock a “hold” rating in a research note on Friday, April 27th. Moffett Nathanson began coverage on CoreSite Realty in a research note on Monday, April 9th. They issued a “buy” rating and a $125.00 price objective on the stock. KeyCorp raised CoreSite Realty from a “sector weight” rating to an “overweight” rating and boosted their price objective for the stock from $98.19 to $110.00 in a research note on Monday, March 12th. Finally, Raymond James raised CoreSite Realty from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $115.54.
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 1,250 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.
Receive News & Ratings for CoreSite Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreSite Realty and related companies with MarketBeat.com's FREE daily email newsletter.