Two Sigma Advisers LP cut its stake in CoreSite (NYSE:COR) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,200 shares of the real estate investment trust’s stock after selling 7,106 shares during the period. Two Sigma Advisers LP owned about 0.32% of CoreSite worth $12,666,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of COR. Nationwide Fund Advisors grew its holdings in shares of CoreSite by 193.7% in the third quarter. Nationwide Fund Advisors now owns 150,780 shares of the real estate investment trust’s stock worth $16,872,000 after purchasing an additional 99,437 shares during the last quarter. FDx Advisors Inc. bought a new position in CoreSite during the 3rd quarter worth about $209,000. Sei Investments Co. grew its holdings in CoreSite by 32.1% during the 3rd quarter. Sei Investments Co. now owns 11,250 shares of the real estate investment trust’s stock worth $1,259,000 after acquiring an additional 2,735 shares in the last quarter. Rhumbline Advisers grew its holdings in CoreSite by 13.6% during the 3rd quarter. Rhumbline Advisers now owns 84,215 shares of the real estate investment trust’s stock worth $9,424,000 after acquiring an additional 10,086 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in CoreSite by 23.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 214,339 shares of the real estate investment trust’s stock worth $23,988,000 after acquiring an additional 40,359 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.
Several research analysts have issued reports on COR shares. UBS upgraded shares of CoreSite from a “market perform” rating to an “outperform” rating in a report on Monday, March 12th. Raymond James Financial upgraded shares of CoreSite from a “market perform” rating to an “outperform” rating in a report on Monday, March 12th. Citigroup dropped their target price on shares of CoreSite from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Jefferies Group reiterated a “buy” rating on shares of CoreSite in a report on Thursday, February 8th. Finally, KeyCorp upgraded shares of CoreSite from a “sector weight” rating to an “overweight” rating and increased their target price for the stock from $98.19 to $110.00 in a report on Monday, March 12th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. CoreSite currently has a consensus rating of “Buy” and a consensus price target of $112.77.
Shares of COR stock opened at $98.77 on Friday. CoreSite has a 1-year low of $86.47 and a 1-year high of $120.85. The firm has a market cap of $3,516.43, a PE ratio of 22.77, a PEG ratio of 1.21 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 released 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 net margin of 15.54% and a return on equity of 16.77%. The business had revenue of $125.95 million for the quarter, compared to analysts’ expectations of $125.71 million. During the same period last year, the business earned $1.06 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. sell-side analysts predict that CoreSite will post 5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Wednesday, March 28th. CoreSite’s dividend payout ratio is currently 213.04%.
In related news, CFO Jeffrey S. Finnin sold 10,396 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $93.30, for a total value of $969,946.80. Following the completion of the transaction, the chief financial officer now directly owns 84,827 shares of the company’s stock, valued at approximately $7,914,359.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven James Smith sold 3,151 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $106.52, for a total transaction of $335,644.52. Following the completion of the transaction, the senior vice president now directly owns 42,915 shares of the company’s stock, valued at $4,571,305.80. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 198,000 shares of company stock worth $64,780 and sold 46,631 shares worth $4,625,019. 1.50% of the stock is currently owned by company insiders.
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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