Robeco Institutional Asset Management B.V. raised its stake in CoreSite Realty Corp (NYSE:COR) by 13.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 68,000 shares of the real estate investment trust’s stock after purchasing an additional 8,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.18% of CoreSite Realty worth $8,232,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in COR. Orion Portfolio Solutions LLC bought a new stake in CoreSite Realty in the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. bought a new stake in CoreSite Realty in the first quarter valued at approximately $42,000. Meeder Asset Management Inc. bought a new stake in CoreSite Realty in the first quarter valued at approximately $44,000. Quadrant Capital Group LLC lifted its position in CoreSite Realty by 83.0% in the fourth quarter. Quadrant Capital Group LLC now owns 421 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 191 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in CoreSite Realty in the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 94.09% of the company’s stock.
Shares of COR stock opened at $124.63 on Friday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.15 and a beta of 0.28. The business’s fifty day moving average is $121.18 and its 200 day moving average is $116.77. CoreSite Realty Corp has a twelve month low of $90.07 and a twelve month high of $128.47. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 9.56.
CoreSite Realty (NYSE:COR) last issued its quarterly earnings results 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 firm had revenue of $147.40 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $1.25 earnings per share. Equities research analysts expect that CoreSite Realty Corp will post 5.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.88 annualized dividend and a dividend yield of 3.92%. CoreSite Realty’s payout ratio is presently 95.69%.
COR has been the subject of a number of recent analyst reports. Robert W. Baird downgraded CoreSite Realty from an “outperform” rating to a “neutral” rating and set a $122.00 target price for the company. in a report on Monday, April 13th. Raymond James downgraded CoreSite Realty from an “outperform” rating to a “market perform” rating in a report on Thursday, April 16th. Wells Fargo & Co upped their target price on CoreSite Realty from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Credit Suisse Group restated a “hold” rating and set a $124.00 target price on shares of CoreSite Realty in a report on Wednesday, July 15th. Finally, Barclays initiated coverage on CoreSite Realty in a report on Wednesday, July 15th. They set an “underweight” rating and a $110.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $117.18.
In other CoreSite Realty news, SVP Brian Warren sold 1,000 shares of CoreSite Realty stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $120.00, for a total value of $120,000.00. Following the completion of the transaction, the senior vice president now directly owns 25,084 shares of the company’s stock, valued at $3,010,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derek Mccandless sold 7,000 shares of CoreSite Realty stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $125.05, for a total transaction of $875,350.00. Following the completion of the transaction, the senior vice president now directly owns 28,834 shares of the company’s stock, valued at $3,605,691.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,633,083 shares of company stock valued at $561,094,645. 1.50% of the stock is owned by insiders.
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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