Spirit of America Management Corp NY decreased its position in shares of CoreSite Realty Corp (NYSE:COR) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,700 shares of the real estate investment trust’s stock after selling 3,050 shares during the quarter. Spirit of America Management Corp NY owned approximately 0.10% of CoreSite Realty worth $3,928,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bremer Trust National Association acquired a new position in CoreSite Realty during the 4th quarter worth about $54,000. Benjamin F. Edwards & Company Inc. lifted its holdings in CoreSite Realty by 42.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 200 shares during the period. Rehmann Capital Advisory Group lifted its holdings in CoreSite Realty by 20,090.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 12,114 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 12,054 shares during the period. NumerixS Investment Technologies Inc acquired a new position in CoreSite Realty during the 4th quarter worth about $137,000. Finally, Sit Investment Associates Inc. lifted its holdings in CoreSite Realty by 148.4% during the 4th quarter. Sit Investment Associates Inc. now owns 1,925 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 1,150 shares during the period. 94.92% of the stock is currently owned by institutional investors.
In related news, CAO Mark R. Jones sold 600 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $105.42, for a total value of $63,252.00. Following the completion of the sale, the chief accounting officer now directly owns 15,021 shares of the company’s stock, valued at approximately $1,583,513.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Juan Font sold 287 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $103.80, for a total value of $29,790.60. Following the completion of the sale, the senior vice president now directly owns 20,357 shares of the company’s stock, valued at $2,113,056.60. The disclosure for this sale can be found here. Insiders sold a total of 35,487 shares of company stock valued at $3,614,083 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
Several brokerages have commented on COR. JPMorgan Chase & Co. downgraded CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 target price on the stock. in a report on Monday, February 11th. Cowen reissued a “hold” rating and issued a $106.00 price objective on shares of CoreSite Realty in a research report on Sunday, February 10th. Jefferies Financial Group reissued a “hold” rating and issued a $100.00 price objective on shares of CoreSite Realty in a research report on Friday, February 8th. Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Mitsubishi UFJ Financial Group reissued an “overweight” rating on shares of CoreSite Realty in a research report on Thursday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. CoreSite Realty currently has an average rating of “Hold” and a consensus target price of $110.82.
Shares of COR stock traded down $0.74 during mid-day trading on Wednesday, hitting $107.67. The company’s stock had a trading volume of 32,391 shares, compared to its average volume of 233,481. CoreSite Realty Corp has a 52 week low of $82.64 and a 52 week high of $117.82. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 3.38. The firm has a market cap of $3.98 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.26. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The firm had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.89 million. During the same period last year, the company posted $1.18 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts forecast that CoreSite Realty Corp will post 5.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Thursday, March 28th. CoreSite Realty’s payout ratio is 86.96%.
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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