People s United Financial Inc. Grows Position in CoreSite Realty Co. (NYSE:COR)

People s United Financial Inc. increased its position in shares of CoreSite Realty Co. (NYSE:COR) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,854 shares of the real estate investment trust’s stock after acquiring an additional 142 shares during the quarter. People s United Financial Inc.’s holdings in CoreSite Realty were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of CoreSite Realty by 1.7% during the 1st quarter. BlackRock Inc. now owns 4,149,295 shares of the real estate investment trust’s stock valued at $497,293,000 after acquiring an additional 68,621 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of CoreSite Realty by 12.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,846,706 shares of the real estate investment trust’s stock valued at $248,567,000 after acquiring an additional 207,252 shares during the last quarter. M&G Investment Management Ltd. boosted its position in shares of CoreSite Realty by 14.7% during the 1st quarter. M&G Investment Management Ltd. now owns 769,525 shares of the real estate investment trust’s stock valued at $92,343,000 after acquiring an additional 98,897 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CoreSite Realty by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 734,852 shares of the real estate investment trust’s stock valued at $88,072,000 after acquiring an additional 37,218 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of CoreSite Realty by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 618,412 shares of the real estate investment trust’s stock valued at $74,115,000 after acquiring an additional 2,153 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

COR stock opened at $152.24 on Thursday. The company’s 50 day moving average price is $144.08 and its 200 day moving average price is $131.41. The company has a debt-to-equity ratio of 80.93, a quick ratio of 0.18 and a current ratio of 0.18. CoreSite Realty Co. has a fifty-two week low of $107.23 and a fifty-two week high of $155.40. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 73.90, a PEG ratio of 1.26 and a beta of 0.28.

CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.76). CoreSite Realty had a return on equity of 143.10% and a net margin of 13.98%. Equities analysts forecast that CoreSite Realty Co. will post 5.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a dividend of $1.27 per share. The ex-dividend date is Wednesday, September 29th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.34%. CoreSite Realty’s payout ratio is 95.67%.

COR has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of CoreSite Realty from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, July 30th. Barclays upped their target price on shares of CoreSite Realty from $118.00 to $123.00 and gave the company an “underweight” rating in a research report on Wednesday, August 25th. They noted that the move was a valuation call. Cowen upped their target price on shares of CoreSite Realty from $153.00 to $158.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Raymond James upped their target price on shares of CoreSite Realty from $136.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Finally, Zacks Investment Research cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, September 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, CoreSite Realty presently has a consensus rating of “Hold” and an average price target of $142.33.

In other CoreSite Realty news, CRO Steven James Smith sold 5,435 shares of the stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $138.98, for a total value of $755,356.30. Following the transaction, the executive now directly owns 51,541 shares in the company, valued at $7,163,168.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Juan Font sold 600 shares of the stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $139.11, for a total transaction of $83,466.00. Following the completion of the transaction, the senior vice president now owns 25,971 shares in the company, valued at $3,612,825.81. The disclosure for this sale can be found here. Insiders have sold 10,856 shares of company stock worth $1,508,604 over the last 90 days. Insiders own 1.40% of the company’s stock.

CoreSite Realty Company Profile

CoreSite Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, construction and operation of strategically located data centers. The firm also offers collocation and interconnection solutions for networks, cloud services, and industry solutions. The company was founded in 2001 and is headquartered in Denver, CO.

Further Reading: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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