HCR Wealth Advisors Cuts Stake in CoreSite Realty Corp (NYSE:COR)

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HCR Wealth Advisors decreased its holdings in CoreSite Realty Corp (NYSE:COR) by 5.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,195 shares of the real estate investment trust’s stock after selling 923 shares during the period. HCR Wealth Advisors’ holdings in CoreSite Realty were worth $1,904,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Garrison Asset Management LLC boosted its stake in shares of CoreSite Realty by 2.5% in the 1st quarter. Garrison Asset Management LLC now owns 3,505 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 85 shares in the last quarter. Victory Capital Management Inc. boosted its position in CoreSite Realty by 2.0% during the 1st quarter. Victory Capital Management Inc. now owns 4,782 shares of the real estate investment trust’s stock valued at $554,000 after buying an additional 94 shares during the period. Utah Retirement Systems boosted its position in CoreSite Realty by 1.2% during the 1st quarter. Utah Retirement Systems now owns 8,236 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 100 shares during the period. Janus Henderson Group PLC boosted its position in CoreSite Realty by 1.6% during the 4th quarter. Janus Henderson Group PLC now owns 7,295 shares of the real estate investment trust’s stock valued at $818,000 after buying an additional 114 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in CoreSite Realty by 1.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,847 shares of the real estate investment trust’s stock valued at $829,000 after buying an additional 118 shares during the period. 94.09% of the stock is owned by institutional investors.

Several brokerages have weighed in on COR. Barclays began coverage on shares of CoreSite Realty in a research report on Wednesday, July 15th. They set an “underweight” rating and a $110.00 price target for the company. Wells Fargo & Co raised their target price on shares of CoreSite Realty from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Robert W. Baird cut shares of CoreSite Realty from an “outperform” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Monday, April 13th. Credit Suisse Group reaffirmed a “hold” rating and issued a $124.00 target price on shares of CoreSite Realty in a research report on Wednesday, July 15th. Finally, Raymond James cut shares of CoreSite Realty from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. CoreSite Realty currently has an average rating of “Hold” and a consensus target price of $118.56.

Shares of CoreSite Realty stock traded up $1.05 during trading on Friday, hitting $129.05. The company’s stock had a trading volume of 355,964 shares, compared to its average volume of 292,640. The company has a debt-to-equity ratio of 12.28, a quick ratio of 0.17 and a current ratio of 0.14. The company has a fifty day simple moving average of $121.98 and a two-hundred day simple moving average of $117.28. The company has a market capitalization of $4.89 billion, a PE ratio of 65.18, a P/E/G ratio of 1.18 and a beta of 0.28. CoreSite Realty Corp has a 52 week low of $90.07 and a 52 week high of $130.21.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The company had revenue of $150.54 million during the quarter, compared to analyst estimates of $149.87 million. CoreSite Realty had a net margin of 12.77% and a return on equity of 39.91%. CoreSite Realty’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. As a group, analysts predict that CoreSite Realty Corp will post 5.18 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.88 annualized dividend and a dividend yield of 3.78%. CoreSite Realty’s payout ratio is 95.69%.

In related news, CAO Mark R. Jones sold 750 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $120.66, for a total value of $90,495.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,121 shares in the company, valued at approximately $1,703,839.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brian Warren sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $120.00, for a total transaction of $120,000.00. Following the sale, the senior vice president now owns 25,084 shares of the company’s stock, valued at $3,010,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,629,128 shares of company stock valued at $560,616,895. 1.50% of the stock is owned by company insiders.

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

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