Goldman Sachs Group Inc. lifted its position in CoreSite (NYSE:COR) by 16.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 343,317 shares of the real estate investment trust’s stock after purchasing an additional 49,687 shares during the quarter. Goldman Sachs Group Inc. owned 1.00% of CoreSite worth $39,103,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of COR. Zions Bancorporation purchased a new stake in CoreSite during the 3rd quarter valued at about $170,000. Financial Gravity Companies Inc. purchased a new stake in CoreSite during the 4th quarter valued at about $183,000. Intrust Bank NA purchased a new stake in CoreSite during the 4th quarter valued at about $200,000. Park Avenue Securities LLC purchased a new stake in CoreSite during the 3rd quarter valued at about $207,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in CoreSite during the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.
In related news, SVP Derek Mccandless sold 1,635 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $91.84, for a total transaction of $150,158.40. Following the completion of the transaction, the senior vice president now owns 34,113 shares of the company’s stock, valued at approximately $3,132,937.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Steven James Smith sold 3,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $106.52, for a total value of $335,644.52. Following the transaction, the senior vice president now directly owns 42,915 shares of the company’s stock, valued at approximately $4,571,305.80. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 198,000 shares of company stock valued at $64,780 and have sold 46,583 shares valued at $4,620,060. 1.50% of the stock is owned by company insiders.
COR stock opened at $104.27 on Wednesday. CoreSite has a 52-week low of $86.47 and a 52-week high of $120.85. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $3,599.64, a P/E ratio of 56.67, a P/E/G ratio of 1.24 and a beta of 0.48.
CoreSite (NYSE:COR) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. CoreSite had a return on equity of 16.77% and a net margin of 15.54%. The company had revenue of $125.95 million during the quarter, compared to analyst estimates of $125.71 million. During the same quarter last year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. equities analysts forecast that CoreSite will post 5 earnings per share for the current year.
The business also recently disclosed 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. This represents a $3.92 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, March 28th. CoreSite’s dividend payout ratio (DPR) is presently 213.04%.
Several equities research analysts recently weighed in on COR shares. SunTrust Banks restated a “buy” rating and set a $133.00 target price on shares of CoreSite in a report on Thursday, December 7th. Royal Bank of Canada restated an “outperform” rating and set a $113.00 target price on shares of CoreSite in a report on Monday, February 12th. Credit Suisse Group set a $111.00 target price on CoreSite and gave the company a “hold” rating in a report on Wednesday, January 17th. ValuEngine cut CoreSite from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Robert W. Baird dropped their target price on CoreSite from $129.00 to $126.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $112.77.
CoreSite Company Profile
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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