Pacer Advisors Inc. Has $30.36 Million Stake in CoreSite Realty Co. (NYSE:COR)

Pacer Advisors Inc. trimmed its stake in shares of CoreSite Realty Co. (NYSE:COR) by 13.4% during the first quarter, HoldingsChannel reports. The fund owned 253,302 shares of the real estate investment trust’s stock after selling 39,050 shares during the period. CoreSite Realty comprises about 0.5% of Pacer Advisors Inc.’s investment portfolio, making the stock its 19th largest position. Pacer Advisors Inc.’s holdings in CoreSite Realty were worth $30,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. CI Investments Inc. grew its position in CoreSite Realty by 30.0% in the fourth quarter. CI Investments Inc. now owns 360 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 83 shares in the last quarter. Louisiana State Employees Retirement System grew its position in CoreSite Realty by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the real estate investment trust’s stock valued at $1,340,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System grew its position in CoreSite Realty by 0.6% in the fourth quarter. State of Michigan Retirement System now owns 15,609 shares of the real estate investment trust’s stock valued at $1,955,000 after purchasing an additional 100 shares in the last quarter. Meeder Asset Management Inc. grew its position in CoreSite Realty by 50.0% in the fourth quarter. Meeder Asset Management Inc. now owns 306 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 102 shares in the last quarter. Finally, CWM LLC grew its position in CoreSite Realty by 98.1% in the fourth quarter. CWM LLC now owns 212 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

In other news, CEO Paul E. Szurek sold 14,788 shares of the business’s stock in a transaction that occurred on Thursday, March 4th. The shares were sold at an average price of $108.68, for a total value of $1,607,159.84. Following the completion of the transaction, the chief executive officer now directly owns 202,998 shares in the company, valued at approximately $22,061,822.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian Warren sold 1,425 shares of CoreSite Realty stock in a transaction that occurred on Thursday, March 4th. The shares were sold at an average price of $109.67, for a total transaction of $156,279.75. Following the sale, the senior vice president now directly owns 22,826 shares in the company, valued at $2,503,327.42. The disclosure for this sale can be found here. Insiders sold a total of 41,657 shares of company stock valued at $4,708,727 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

CoreSite Realty stock traded up $0.35 during midday trading on Thursday, hitting $121.82. The company’s stock had a trading volume of 1,017 shares, compared to its average volume of 352,189. CoreSite Realty Co. has a 1-year low of $107.23 and a 1-year high of $141.50. The company has a debt-to-equity ratio of 16.41, a current ratio of 0.22 and a quick ratio of 0.22. The company has a 50-day moving average price of $118.39 and a two-hundred day moving average price of $122.69. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 1.04 and a beta of 0.23.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Thursday, February 4th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.86). CoreSite Realty had a return on equity of 51.47% and a net margin of 13.19%. The business had revenue of $154.90 million during the quarter, compared to analyst estimates of $153.71 million. During the same quarter last year, the firm earned $1.30 EPS. CoreSite Realty’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that CoreSite Realty Co. will post 5.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a $1.23 dividend. This represents a $4.92 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 30th. CoreSite Realty’s payout ratio is presently 96.47%.

A number of research firms recently weighed in on COR. Evercore ISI began coverage on shares of CoreSite Realty in a research report on Thursday, March 18th. They issued an “in-line” rating and a $130.00 target price for the company. Credit Suisse Group decreased their price objective on shares of CoreSite Realty from $161.00 to $156.00 and set an “outperform” rating for the company in a research report on Friday, February 5th. Cowen raised shares of CoreSite Realty from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $152.00 in a research report on Tuesday, February 2nd. Wells Fargo & Company downgraded shares of CoreSite Realty from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $120.00 to $115.00 in a research report on Thursday, December 10th. Finally, Zacks Investment Research raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $130.60.

CoreSite Realty Company Profile

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 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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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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