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.
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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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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