Charter Trust Co. cut its stake in shares of CoreSite Realty Corp (NYSE:COR) by 40.2% during the first quarter, HoldingsChannel.com reports. The firm owned 7,360 shares of the real estate investment trust’s stock after selling 4,953 shares during the period. Charter Trust Co.’s holdings in CoreSite Realty were worth $853,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in CoreSite Realty in the fourth quarter worth approximately $6,139,000. Cullen Frost Bankers Inc. grew its position in CoreSite Realty by 459.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 302 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 248 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in CoreSite Realty in the fourth quarter worth approximately $35,000. Great Diamond Partners LLC bought a new stake in CoreSite Realty in the fourth quarter worth approximately $40,000. Finally, Quadrant Capital Group LLC grew 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 worth $46,000 after acquiring an additional 191 shares in the last quarter. 94.48% of the stock is owned by institutional investors.
In other news, CEO Paul E. Szurek sold 5,012 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $95.42, for a total value of $478,245.04. Following the completion of the transaction, the chief executive officer now owns 174,937 shares in the company, valued at approximately $16,692,488.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Derek Mccandless sold 7,000 shares of the stock in a transaction on Monday, June 1st. The shares were 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 owns 28,834 shares of the company’s stock, valued at approximately $3,605,691.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,648,651 shares of company stock valued at $562,641,740. Corporate insiders own 1.50% of the company’s stock.
COR has been the subject of several recent research reports. Zacks Investment Research downgraded shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Wells Fargo & Co upped their price objective on shares of CoreSite Realty from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Raymond James downgraded shares of CoreSite Realty from an “outperform” rating to a “market perform” rating in a report on Thursday, April 16th. Robert W. Baird downgraded shares of CoreSite Realty from an “outperform” rating to a “neutral” rating and set a $122.00 price objective for the company. in a report on Monday, April 13th. Finally, Credit Suisse Group upped their price objective on shares of CoreSite Realty from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. CoreSite Realty presently has an average rating of “Hold” and an average price target of $117.50.
NYSE:COR traded down $2.93 during trading hours on Thursday, hitting $119.09. 12,397 shares of the company traded hands, compared to its average volume of 458,058. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 61.32, a P/E/G ratio of 1.11 and a beta of 0.30. CoreSite Realty Corp has a twelve month low of $90.07 and a twelve month high of $128.47. The firm has a 50-day moving average of $121.67 and a 200 day moving average of $114.79. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 9.56.
CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.79). The company had revenue of $147.40 million for the quarter, compared to analyst estimates of $146.34 million. CoreSite Realty had a net margin of 12.74% and a return on equity of 32.98%. CoreSite Realty’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts predict that CoreSite Realty Corp will post 5.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Monday, June 29th. CoreSite Realty’s payout ratio is currently 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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