Green Street Investors LLC lowered its stake in CoreSite Realty Corp (NYSE:COR) by 46.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 20,400 shares of the real estate investment trust’s stock after selling 17,500 shares during the quarter. CoreSite Realty accounts for about 1.5% of Green Street Investors LLC’s portfolio, making the stock its 25th biggest holding. Green Street Investors LLC’s holdings in CoreSite Realty were worth $2,486,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in CoreSite Realty during the 3rd quarter worth $36,000. Steward Partners Investment Advisory LLC acquired a new stake in CoreSite Realty during the 2nd quarter worth $51,000. Usca Ria LLC acquired a new stake in CoreSite Realty during the 3rd quarter worth $61,000. Quest Capital Management Inc. ADV acquired a new stake in CoreSite Realty during the 3rd quarter worth $65,000. Finally, Destination Wealth Management acquired a new stake in CoreSite Realty during the 2nd quarter worth $103,000. 93.00% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on COR shares. Raymond James lifted their target price on shares of CoreSite Realty from $110.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Co lifted their target price on shares of CoreSite Realty from $105.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $112.00 target price on shares of CoreSite Realty in a research note on Thursday, July 25th. Zacks Investment Research cut shares of CoreSite Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Finally, Credit Suisse Group reduced their price target on CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $112.20.
In related news, CEO Paul E. Szurek sold 3,590 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $110.26, for a total value of $395,833.40. Following the sale, the chief executive officer now directly owns 174,714 shares in the company, valued at approximately $19,263,965.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian Warren sold 10,931 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $118.59, for a total transaction of $1,296,307.29. Following the completion of the sale, the senior vice president now owns 26,945 shares in the company, valued at $3,195,407.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,435 shares of company stock worth $1,801,677. Insiders own 1.20% of the company’s stock.
Shares of NYSE COR traded down $0.18 during trading on Friday, hitting $113.63. 538,923 shares of the company were exchanged, compared to its average volume of 287,363. CoreSite Realty Corp has a 12-month low of $82.64 and a 12-month high of $123.68. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.18 and a current ratio of 0.16. The company has a fifty day moving average price of $119.42 and a 200-day moving average price of $115.54. The firm has a market capitalization of $4.38 billion, a PE ratio of 22.46, a P/E/G ratio of 1.74 and a beta of 0.45.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.78). CoreSite Realty had a return on equity of 26.30% and a net margin of 13.48%. The company had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $145.19 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that CoreSite Realty Corp will post 5.11 earnings per share for the current fiscal year.
The business also recently declared a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 4.1%. CoreSite Realty’s dividend payout ratio is presently 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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