Morse Asset Management Inc raised its stake in shares of CoreSite Realty Corp (NYSE:COR) by 217.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,490 shares of the real estate investment trust’s stock after buying an additional 7,865 shares during the period. Morse Asset Management Inc’s holdings in CoreSite Realty were worth $1,273,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of CoreSite Realty by 6.9% in the second quarter. BlackRock Inc. now owns 3,577,163 shares of the real estate investment trust’s stock worth $396,420,000 after purchasing an additional 231,701 shares during the period. Wells Fargo & Company MN increased its stake in shares of CoreSite Realty by 2.9% in the second quarter. Wells Fargo & Company MN now owns 1,715,414 shares of the real estate investment trust’s stock worth $190,104,000 after purchasing an additional 47,623 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CoreSite Realty by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 938,604 shares of the real estate investment trust’s stock worth $94,104,000 after purchasing an additional 39,674 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of CoreSite Realty by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 524,499 shares of the real estate investment trust’s stock worth $58,125,000 after purchasing an additional 4,662 shares during the period. Finally, Millennium Management LLC increased its stake in shares of CoreSite Realty by 7.1% in the first quarter. Millennium Management LLC now owns 523,924 shares of the real estate investment trust’s stock worth $52,529,000 after purchasing an additional 34,708 shares during the period. Institutional investors own 96.71% of the company’s stock.
COR stock opened at $116.92 on Monday. CoreSite Realty Corp has a twelve month low of $89.76 and a twelve month high of $119.59. The stock has a market cap of $3.94 billion, a P/E ratio of 25.87, a PEG ratio of 1.46 and a beta of 0.27. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.23 and a current ratio of 0.23.
CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, July 26th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.67). CoreSite Realty had a return on equity of 19.09% and a net margin of 15.23%. The firm had revenue of $136.40 million for the quarter, compared to analyst estimates of $132.99 million. During the same period last year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. sell-side analysts predict that CoreSite Realty Corp will post 5.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, September 27th. CoreSite Realty’s dividend payout ratio (DPR) is presently 91.15%.
COR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded CoreSite Realty from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. Royal Bank of Canada lifted their price objective on CoreSite Realty to $123.00 and gave the stock an “average” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Citigroup lifted their price objective on CoreSite Realty from $105.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Cowen reiterated a “buy” rating and issued a $115.00 price objective on shares of CoreSite Realty in a research note on Friday, July 27th. Finally, BMO Capital Markets initiated coverage on CoreSite Realty in a research note on Tuesday, July 17th. They issued a “market perform” rating and a $119.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $119.00.
In related news, SVP Brian Warren sold 1,000 shares of CoreSite Realty stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $114.27, for a total transaction of $114,270.00. Following the sale, the senior vice president now directly owns 36,623 shares of the company’s stock, valued at $4,184,910.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Paul E. Szurek sold 3,588 shares of CoreSite Realty stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $114.15, for a total value of $409,570.20. Following the sale, the chief executive officer now directly owns 147,075 shares in the company, valued at $16,788,611.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,265,188 shares of company stock worth $253,540,426. 1.50% of the stock is owned by company insiders.
CoreSite Realty Company 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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