Paul E. Szurek Sells 2,610 Shares of CoreSite (NYSE:COR) Stock

CoreSite (NYSE:COR) CEO Paul E. Szurek sold 2,610 shares of CoreSite stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $101.91, for a total transaction of $265,985.10. Following the completion of the transaction, the chief executive officer now directly owns 89,560 shares of the company’s stock, valued at $9,127,059.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE COR traded down $2.01 during trading hours on Friday, hitting $102.29. 325,171 shares of the company’s stock traded hands, compared to its average volume of 392,611. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $3,502.72, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. CoreSite has a 52 week low of $89.76 and a 52 week high of $120.85.

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CoreSite (NYSE:COR) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $125.95 million during the quarter, compared to analyst estimates of $125.71 million. CoreSite had a net margin of 15.54% and a return on equity of 16.77%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. sell-side analysts predict that CoreSite will post 5 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 28th. This represents a $3.92 annualized dividend and a yield of 3.83%. CoreSite’s dividend payout ratio (DPR) is 86.73%.

COR has been the subject of several recent analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of CoreSite in a report on Thursday, February 8th. Robert W. Baird set a $126.00 price objective on shares of CoreSite and gave the company a “buy” rating in a report on Saturday, March 10th. TheStreet cut shares of CoreSite from a “b-” rating to a “c+” rating in a report on Friday, February 9th. Credit Suisse Group reissued a “hold” rating on shares of CoreSite in a report on Sunday, February 11th. Finally, Citigroup decreased their price objective on shares of CoreSite from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CoreSite presently has an average rating of “Buy” and a consensus price target of $112.77.

A number of hedge funds and other institutional investors have recently made changes to their positions in COR. Atlantic Trust Group LLC bought a new stake in CoreSite during the third quarter valued at approximately $35,764,000. BlackRock Inc. boosted its position in shares of CoreSite by 6.2% in the fourth quarter. BlackRock Inc. now owns 3,362,411 shares of the real estate investment trust’s stock worth $382,978,000 after purchasing an additional 196,323 shares during the period. Payden & Rygel boosted its position in shares of CoreSite by 3,343.6% in the third quarter. Payden & Rygel now owns 134,300 shares of the real estate investment trust’s stock worth $15,028,000 after purchasing an additional 130,400 shares during the period. Land & Buildings Investment Management LLC bought a new position in shares of CoreSite in the third quarter worth approximately $11,391,000. Finally, Nationwide Fund Advisors boosted its position in shares of CoreSite by 193.7% in the third quarter. Nationwide Fund Advisors now owns 150,780 shares of the real estate investment trust’s stock worth $16,872,000 after purchasing an additional 99,437 shares during the period. Institutional investors own 99.40% of the company’s stock.

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About CoreSite

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.

Insider Buying and Selling by Quarter for CoreSite (NYSE:COR)

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