Whittier Trust Co. lifted its holdings in shares of CoreSite Realty Corp (NYSE:COR) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,595 shares of the real estate investment trust’s stock after purchasing an additional 2,749 shares during the quarter. Whittier Trust Co. owned approximately 0.14% of CoreSite Realty worth $5,827,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Tortoise Index Solutions LLC acquired a new stake in shares of CoreSite Realty during the 1st quarter worth about $28,000. Bremer Bank National Association acquired a new stake in CoreSite Realty in the 1st quarter valued at about $40,000. Private Capital Group LLC increased its position in CoreSite Realty by 28.1% in the 1st quarter. Private Capital Group LLC now owns 702 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 154 shares in the last quarter. Institutional & Family Asset Management LLC increased its position in CoreSite Realty by 33.3% in the 1st quarter. Institutional & Family Asset Management LLC now owns 800 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 200 shares in the last quarter. Finally, Destination Wealth Management acquired a new stake in CoreSite Realty in the 2nd quarter valued at about $103,000. Institutional investors own 94.29% of the company’s stock.
In other news, SVP Brian Warren sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $113.08, for a total value of $226,160.00. Following the completion of the sale, the senior vice president now owns 25,306 shares of the company’s stock, valued at $2,861,602.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Steven James Smith sold 5,745 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $117.03, for a total transaction of $672,337.35. Following the sale, the executive now directly owns 41,649 shares of the company’s stock, valued at approximately $4,874,182.47. The disclosure for this sale can be found here. In the last three months, insiders sold 15,545 shares of company stock valued at $1,799,872. 1.20% of the stock is currently owned by company insiders.
CoreSite Realty (NYSE:COR) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.75). The business had revenue of $142.91 million during the quarter, compared to the consensus estimate of $142.85 million. CoreSite Realty had a net margin of 13.82% and a return on equity of 24.19%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. On average, equities analysts forecast that CoreSite Realty Corp will post 5.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Thursday, June 27th. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.10. CoreSite Realty’s payout ratio is presently 96.44%.
Several research firms have weighed in on COR. Zacks Investment Research cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. ValuEngine cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Stifel Nicolaus set a $110.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a research report on Friday, July 26th. Credit Suisse Group lowered their price objective on shares of CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, BMO Capital Markets restated a “hold” rating and issued a $112.00 price objective on shares of CoreSite Realty in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. CoreSite Realty presently has an average rating of “Hold” and an average target price of $113.18.
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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