Whittier Trust Co. boosted its position in CoreSite Realty Corp. (NYSE:COR) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 35,236 shares of the real estate investment trust’s stock after buying an additional 427 shares during the period. Whittier Trust Co.’s holdings in CoreSite Realty Corp. were worth $3,125,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new position in CoreSite Realty Corp. during the second quarter worth approximately $1,047,000. Garrison Financial Corp purchased a new position in CoreSite Realty Corp. during the second quarter worth approximately $239,000. Strs Ohio increased its position in CoreSite Realty Corp. by 4.1% in the second quarter. Strs Ohio now owns 57,155 shares of the real estate investment trust’s stock worth $5,069,000 after buying an additional 2,235 shares in the last quarter. Louisiana State Employees Retirement System increased its position in CoreSite Realty Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the real estate investment trust’s stock worth $1,197,000 after buying an additional 100 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in CoreSite Realty Corp. during the second quarter worth approximately $10,006,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.
Shares of CoreSite Realty Corp. (NYSE:COR) traded down 0.28% on Thursday, reaching $71.95. The company had a trading volume of 506,795 shares. CoreSite Realty Corp. has a 52-week low of $53.62 and a 52-week high of $91.91. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 53.85 and a beta of 0.81. The company’s 50-day moving average price is $77.81 and its 200-day moving average price is $78.35.
CoreSite Realty Corp. (NYSE:COR) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. The firm had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.09 million. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. On average, analysts predict that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, September 28th. CoreSite Realty Corp.’s dividend payout ratio (DPR) is 160.61%.
Several equities analysts have commented on the company. Stifel Nicolaus upgraded CoreSite Realty Corp. from a “sell” rating to a “hold” rating and set a $75.00 price target on the stock in a report on Monday. Jefferies Group reiterated a “buy” rating on shares of CoreSite Realty Corp. in a report on Tuesday, September 13th. Zacks Investment Research downgraded CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. SunTrust Banks Inc. assumed coverage on CoreSite Realty Corp. in a report on Thursday, July 21st. They set a “buy” rating and a $100.00 price target on the stock. Finally, Citigroup Inc. increased their price target on CoreSite Realty Corp. from $75.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $77.06.
In other CoreSite Realty Corp. news, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.61, for a total transaction of $660,880.00. Following the transaction, the chief financial officer now owns 117,644 shares of the company’s stock, valued at approximately $9,718,570.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul E. Szurek purchased 1,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $81.20 per share, for a total transaction of $81,200.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $487,200. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.
CoreSite Realty Corp. Company Profile
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia (including Washington DC), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.
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