William Blair Investment Management LLC raised its position in CoreSite Realty Corp (NYSE:COR) by 45.4% during the first quarter, Holdings Channel reports. The firm owned 282,167 shares of the real estate investment trust’s stock after buying an additional 88,067 shares during the quarter. William Blair Investment Management LLC’s holdings in CoreSite Realty were worth $32,703,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of COR. Mairs & Power INC grew its position in CoreSite Realty by 2.6% in the 4th quarter. Mairs & Power INC now owns 1,167,060 shares of the real estate investment trust’s stock valued at $130,851,000 after buying an additional 29,915 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CoreSite Realty by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 655,460 shares of the real estate investment trust’s stock worth $75,967,000 after acquiring an additional 28,164 shares in the last quarter. Norges Bank bought a new stake in shares of CoreSite Realty in the 4th quarter valued at approximately $70,377,000. M&G Investment Management Ltd. lifted its position in CoreSite Realty by 0.5% in the 1st quarter. M&G Investment Management Ltd. now owns 526,125 shares of the real estate investment trust’s stock valued at $61,031,000 after purchasing an additional 2,455 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in CoreSite Realty by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 417,748 shares of the real estate investment trust’s stock worth $46,837,000 after purchasing an additional 30,262 shares during the period. Institutional investors own 93.66% of the company’s stock.
COR has been the subject of several research reports. Robert W. Baird cut CoreSite Realty from an “outperform” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research report on Monday, April 13th. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Co raised their price objective on CoreSite Realty from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Citigroup upgraded shares of CoreSite Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $117.50.
In other CoreSite Realty news, CEO Paul E. Szurek sold 5,012 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $95.42, for a total transaction of $478,245.04. Following the transaction, the chief executive officer now owns 174,937 shares of the company’s stock, valued at approximately $16,692,488.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Warren sold 1,547 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $110.13, for a total transaction of $170,371.11. Following the completion of the sale, the senior vice president now owns 22,169 shares of the company’s stock, valued at approximately $2,441,471.97. The disclosure for this sale can be found here. Insiders have sold 2,660,918 shares of company stock valued at $314,741,702 in the last quarter. 1.50% of the stock is owned by company insiders.
COR traded up $0.16 during midday trading on Friday, reaching $121.07. 18,326 shares of the company’s stock traded hands, compared to its average volume of 496,491. CoreSite Realty Corp has a 52 week low of $90.07 and a 52 week high of $126.40. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 60.76, a P/E/G ratio of 1.13 and a beta of 0.30. The firm has a fifty day moving average of $119.44 and a two-hundred day moving average of $114.15. The company has a debt-to-equity ratio of 9.56, a current ratio of 0.17 and a quick ratio of 0.17.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.79). The business had revenue of $147.40 million during the quarter, compared to the consensus estimate of $146.34 million. CoreSite Realty had a return on equity of 32.98% and a net margin of 12.74%. CoreSite Realty’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Sell-side analysts forecast that CoreSite Realty Corp will post 5.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Friday, June 12th. CoreSite Realty’s payout ratio is 95.69%.
CoreSite Realty 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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