Piedmont Investment Advisors LLC Invests $765,000 in CoreSite Realty Corporation (COR) Stock

Piedmont Investment Advisors LLC acquired a new position in CoreSite Realty Corporation (NYSE:COR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,393 shares of the real estate investment trust’s stock, valued at approximately $765,000.

A number of other institutional investors have also recently bought and sold shares of COR. BlackRock Inc. boosted its stake in CoreSite Realty Corporation by 143,427.7% in the 1st quarter. BlackRock Inc. now owns 4,401,994 shares of the real estate investment trust’s stock worth $396,400,000 after purchasing an additional 4,398,927 shares during the period. Vanguard Group Inc. boosted its stake in shares of CoreSite Realty Corporation by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 5,510,182 shares of the real estate investment trust’s stock valued at $496,191,000 after buying an additional 198,067 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of CoreSite Realty Corporation by 53.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock valued at $52,529,000 after buying an additional 176,489 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CoreSite Realty Corporation by 44.9% during the 2nd quarter. Principal Financial Group Inc. now owns 536,724 shares of the real estate investment trust’s stock valued at $55,567,000 after buying an additional 166,193 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of CoreSite Realty Corporation by 162.0% during the 1st quarter. Renaissance Technologies LLC now owns 246,500 shares of the real estate investment trust’s stock valued at $22,197,000 after buying an additional 152,400 shares during the period. 98.00% of the stock is owned by hedge funds and other institutional investors.

COR has been the subject of a number of research reports. Jefferies Group LLC reissued a “buy” rating and set a $117.00 target price on shares of CoreSite Realty Corporation in a research note on Friday, July 14th. Royal Bank Of Canada reissued a “buy” rating on shares of CoreSite Realty Corporation in a research note on Tuesday, July 18th. BidaskClub raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Wednesday, September 27th. Finally, Macquarie reissued a “hold” rating and set a $84.00 target price on shares of CoreSite Realty Corporation in a research note on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $104.56.

Shares of CoreSite Realty Corporation (NYSE COR) traded down 0.6967% during midday trading on Wednesday, hitting $113.3845. 8,973 shares of the company’s stock were exchanged. The company has a 50-day moving average of $113.34 and a 200-day moving average of $105.39. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 65.2385 and a beta of 0.56. CoreSite Realty Corporation has a 52 week low of $64.81 and a 52 week high of $120.85.

CoreSite Realty Corporation (NYSE:COR) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The company had revenue of $117.89 million during the quarter, compared to analysts’ expectations of $117.32 million. CoreSite Realty Corporation had a net margin of 15.15% and a return on equity of 14.14%. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. Equities research analysts expect that CoreSite Realty Corporation will post $1.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Thursday, September 28th. CoreSite Realty Corporation’s dividend payout ratio (DPR) is presently 206.90%.

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In other news, CFO Jeffrey S. Finnin sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $110.74, for a total value of $885,920.00. Following the completion of the transaction, the chief financial officer now owns 110,493 shares in the company, valued at $12,235,994.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul E. Szurek sold 3,805 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $117.48, for a total transaction of $447,011.40. Following the completion of the transaction, the chief executive officer now owns 93,405 shares of the company’s stock, valued at approximately $10,973,219.40. The disclosure for this sale can be found here. Insiders sold 21,805 shares of company stock valued at $2,440,331 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

About CoreSite Realty Corporation

CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust. The Company, through its controlling interest in CoreSite, L.P., 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, New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.

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

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