Lake Street Advisors Group LLC purchased a new position in shares of CoreSite (NYSE:COR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,756 shares of the real estate investment trust’s stock, valued at approximately $314,000.
Other hedge funds have also modified their holdings of the company. Zions Bancorporation acquired a new position in shares of CoreSite during the third quarter worth approximately $170,000. Financial Gravity Companies Inc. bought a new stake in shares of CoreSite during the fourth quarter valued at approximately $183,000. Intrust Bank NA bought a new stake in shares of CoreSite during the fourth quarter valued at approximately $200,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of CoreSite during the fourth quarter valued at approximately $208,000. Finally, Jefferies Group LLC bought a new stake in shares of CoreSite during the fourth quarter valued at approximately $210,000. Institutional investors own 99.37% of the company’s stock.
In other CoreSite news, SVP Steven James Smith sold 3,151 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $106.52, for a total value of $335,644.52. Following the sale, the senior vice president now directly owns 42,915 shares in the company, valued at $4,571,305.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian Warren sold 1,242 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $91.62, for a total value of $113,792.04. Following the completion of the sale, the senior vice president now owns 38,169 shares in the company, valued at $3,497,043.78. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 198,000 shares of company stock worth $64,780 and sold 46,583 shares worth $4,620,060. Corporate insiders own 1.50% of the company’s stock.
COR has been the topic of a number of research reports. SunTrust Banks restated a “buy” rating and set a $133.00 price objective on shares of CoreSite in a research report on Thursday, December 7th. Royal Bank of Canada restated an “outperform” rating and set a $113.00 price objective on shares of CoreSite in a research report on Monday, February 12th. Credit Suisse Group set a $111.00 price objective on CoreSite and gave the company a “hold” rating in a research report on Wednesday, January 17th. ValuEngine cut CoreSite from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Robert W. Baird lowered their price objective on CoreSite from $129.00 to $126.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $112.77.
Shares of CoreSite stock opened at $103.16 on Thursday. CoreSite has a 1 year low of $86.47 and a 1 year high of $120.85. The firm has a market capitalization of $3,570.53, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.27 and a quick ratio of 0.27.
CoreSite (NYSE:COR) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. CoreSite had a return on equity of 16.77% and a net margin of 15.54%. The firm had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $125.71 million. During the same period in the prior year, the business posted $1.06 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. equities research analysts anticipate that CoreSite will post 5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, March 28th. CoreSite’s dividend payout ratio (DPR) is 213.04%.
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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