Sei Investments Co. boosted its stake in shares of CoreSite Realty Corp (NYSE:COR) by 88.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,823 shares of the real estate investment trust’s stock after purchasing an additional 9,779 shares during the quarter. Sei Investments Co. owned about 0.06% of CoreSite Realty worth $2,088,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in CoreSite Realty by 19.8% during the first quarter. BNP Paribas Arbitrage SA now owns 9,363 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 1,546 shares during the period. PNC Financial Services Group Inc. boosted its position in CoreSite Realty by 36.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,864 shares of the real estate investment trust’s stock worth $1,190,000 after purchasing an additional 3,170 shares during the period. Bahl & Gaynor Inc. lifted its holdings in shares of CoreSite Realty by 2.9% during the first quarter. Bahl & Gaynor Inc. now owns 23,674 shares of the real estate investment trust’s stock worth $2,373,000 after buying an additional 671 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CoreSite Realty by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 519,837 shares of the real estate investment trust’s stock worth $52,119,000 after buying an additional 12,266 shares during the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of CoreSite Realty during the first quarter worth approximately $310,000. 97.37% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE COR opened at $109.12 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $3.81 billion, a P/E ratio of 24.14, a PEG ratio of 1.30 and a beta of 0.42. CoreSite Realty Corp has a one year low of $89.76 and a one year high of $120.85.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.78%. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, June 28th. CoreSite Realty’s dividend payout ratio is presently 86.73%.
In related news, SVP Juan Font sold 1,250 shares of the company’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $103.98, for a total value of $129,975.00. Following the completion of the transaction, the senior vice president now directly owns 19,777 shares in the company, valued at $2,056,412.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derek Mccandless sold 6,500 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $107.17, for a total value of $696,605.00. Following the completion of the transaction, the senior vice president now owns 33,174 shares of the company’s stock, valued at $3,555,257.58. The disclosure for this sale can be found here. Insiders sold 17,350 shares of company stock valued at $1,832,860 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on the company. TheStreet upgraded CoreSite Realty from a “c+” rating to a “b-” rating in a report on Tuesday, May 15th. Moffett Nathanson assumed coverage on CoreSite Realty in a report on Monday, April 9th. They set a “buy” rating and a $125.00 price target for the company. KeyCorp upgraded CoreSite Realty from a “sector weight” rating to an “overweight” rating and upped their price target for the stock from $98.19 to $110.00 in a report on Monday, March 12th. Robert W. Baird set a $126.00 price target on CoreSite Realty and gave the stock a “buy” rating in a report on Saturday, March 10th. Finally, Credit Suisse Group upped their price target on CoreSite Realty from $107.00 to $112.00 and gave the stock a “hold” rating in a report on Friday, April 27th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. CoreSite Realty has a consensus rating of “Buy” and a consensus target price 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.
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