Pacer Advisors Inc. lowered its stake in CoreSite Realty Co. (NYSE:COR) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 253,302 shares of the real estate investment trust’s stock after selling 39,050 shares during the period. CoreSite Realty makes up about 0.5% of Pacer Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Pacer Advisors Inc. owned approximately 0.59% of CoreSite Realty worth $30,358,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of CoreSite Realty by 98.1% in the fourth quarter. CWM LLC now owns 212 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of CoreSite Realty by 50.0% in the fourth quarter. Meeder Asset Management Inc. now owns 306 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 102 shares in the last quarter. Graves Light Private Wealth Management Inc. bought a new position in shares of CoreSite Realty in the fourth quarter valued at $40,000. CI Investments Inc. increased its holdings in shares of CoreSite Realty by 30.0% in the fourth quarter. CI Investments Inc. now owns 360 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 83 shares in the last quarter. Finally, WD Rutherford LLC bought a new position in shares of CoreSite Realty in the fourth quarter valued at $54,000. 95.16% of the stock is currently owned by institutional investors.
In other news, CFO Jeffrey S. Finnin sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $116.06, for a total transaction of $464,240.00. Following the completion of the transaction, the chief financial officer now owns 71,688 shares of the company’s stock, valued at $8,320,109.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark R. Jones sold 347 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $111.72, for a total transaction of $38,766.84. Following the completion of the transaction, the chief accounting officer now directly owns 11,524 shares of the company’s stock, valued at approximately $1,287,461.28. The disclosure for this sale can be found here. Insiders have sold 41,657 shares of company stock valued at $4,708,727 in the last ninety days. 1.50% of the stock is owned by company insiders.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.86). The business had revenue of $154.90 million during the quarter, compared to the consensus estimate of $153.71 million. CoreSite Realty had a return on equity of 51.47% and a net margin of 13.19%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, sell-side analysts predict that CoreSite Realty Co. will post 5.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a dividend of $1.23 per share. This represents a $4.92 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 30th. CoreSite Realty’s dividend payout ratio is currently 96.47%.
Several equities analysts have weighed in on the stock. Wells Fargo & Company cut shares of CoreSite Realty from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $120.00 to $115.00 in a research report on Thursday, December 10th. Credit Suisse Group lowered their price objective on shares of CoreSite Realty from $161.00 to $156.00 and set an “outperform” rating on the stock in a research report on Friday, February 5th. Cowen upgraded shares of CoreSite Realty from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $152.00 in a research report on Tuesday, February 2nd. Mizuho lowered their price objective on shares of CoreSite Realty from $135.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, March 18th. Finally, Zacks Investment Research upgraded shares of CoreSite Realty from a “sell” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $130.60.
CoreSite Realty Company Profile
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 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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