Exchange Traded Concepts LLC increased its position in CoreSite Realty Co. (NYSE:COR) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,901 shares of the real estate investment trust’s stock after buying an additional 132 shares during the quarter. Exchange Traded Concepts LLC’s holdings in CoreSite Realty were worth $363,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new position in shares of CoreSite Realty in the 3rd quarter valued at $31,000. CI Investments Inc. acquired a new position in shares of CoreSite Realty in the third quarter worth about $33,000. Column Capital Advisors LLC boosted its holdings in shares of CoreSite Realty by 103.7% in the third quarter. Column Capital Advisors LLC now owns 387 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 197 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of CoreSite Realty by 49.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 834 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 275 shares during the period. Finally, Institutional & Family Asset Management LLC boosted its holdings in shares of CoreSite Realty by 30.5% in the third quarter. Institutional & Family Asset Management LLC now owns 1,069 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.
In related news, CFO Jeffrey S. Finnin sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $120.35, for a total transaction of $481,400.00. Following the transaction, the chief financial officer now owns 72,322 shares of the company’s stock, valued at $8,703,952.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mark R. Jones sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $122.25, for a total transaction of $91,687.50. Following the transaction, the chief accounting officer now directly owns 12,621 shares in the company, valued at approximately $1,542,917.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,066 shares of company stock worth $1,612,364. Insiders own 1.50% of the company’s stock.
COR has been the subject of several recent analyst reports. Credit Suisse Group upgraded shares of CoreSite Realty from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $142.00 to $161.00 in a report on Wednesday, January 6th. Mizuho initiated coverage on shares of CoreSite Realty in a report on Wednesday, December 2nd. They issued a “neutral” rating and a $135.00 target price for the company. Wells Fargo & Company cut shares of CoreSite Realty from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $120.00 to $115.00 in a report on Thursday, December 10th. Finally, Zacks Investment Research cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a report on Wednesday, January 13th. Three equities research analysts have rated the stock with a sell rating, four 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 target price of $127.11.
NYSE COR opened at $129.22 on Monday. The company has a 50 day simple moving average of $121.86 and a 200-day simple moving average of $122.77. The company has a debt-to-equity ratio of 16.41, a current ratio of 0.22 and a quick ratio of 0.22. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 64.29, a price-to-earnings-growth ratio of 1.04 and a beta of 0.23. CoreSite Realty Co. has a 52-week low of $90.07 and a 52-week high of $131.36.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.79). The company had revenue of $154.00 million during the quarter, compared to analysts’ expectations of $152.67 million. CoreSite Realty had a return on equity of 51.47% and a net margin of 13.19%. CoreSite Realty’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. On average, analysts predict that CoreSite Realty Co. will post 5.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 15th. Investors of record on Thursday, December 31st were given a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Wednesday, December 30th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $1.22. CoreSite Realty’s dividend payout ratio (DPR) is presently 96.47%.
About CoreSite Realty
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud 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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