Two Sigma Advisers LP lessened its holdings in CoreSite (NYSE:COR) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,200 shares of the real estate investment trust’s stock after selling 7,106 shares during the quarter. Two Sigma Advisers LP owned approximately 0.32% of CoreSite worth $12,666,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in CoreSite by 6.2% in the fourth quarter. BlackRock Inc. now owns 3,362,411 shares of the real estate investment trust’s stock worth $382,978,000 after acquiring an additional 196,323 shares in the last quarter. Wells Fargo & Company MN raised its holdings in CoreSite by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,768,110 shares of the real estate investment trust’s stock worth $201,387,000 after buying an additional 65,560 shares during the period. Dimensional Fund Advisors LP raised its holdings in CoreSite by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 499,857 shares of the real estate investment trust’s stock worth $55,932,000 after buying an additional 22,342 shares during the period. Franklin Resources Inc. raised its holdings in CoreSite by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 465,515 shares of the real estate investment trust’s stock worth $53,022,000 after buying an additional 12,345 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in CoreSite by 16.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 343,317 shares of the real estate investment trust’s stock valued at $39,103,000 after acquiring an additional 49,687 shares in the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on COR shares. Moffett Nathanson started coverage on CoreSite in a research note on Monday, April 9th. They issued a “buy” rating and a $125.00 price target for the company. Jefferies Group restated a “buy” rating on shares of CoreSite in a report on Thursday, February 8th. Raymond James Financial upgraded CoreSite from a “market perform” rating to an “outperform” rating in a report on Monday, March 12th. UBS upgraded CoreSite from a “market perform” rating to an “outperform” rating in a report on Monday, March 12th. Finally, Citigroup cut their target price on CoreSite from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $113.64.
In related news, SVP Brian Warren sold 1,242 shares of CoreSite stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $91.62, for a total transaction of $113,792.04. Following the completion of the sale, the senior vice president now directly owns 38,169 shares of the company’s stock, valued at approximately $3,497,043.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Steven James Smith sold 3,151 shares of CoreSite stock in a transaction that occurred 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 of the company’s stock, valued at $4,571,305.80. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 148,000 shares of company stock valued at $48,780 and have sold 39,510 shares valued at $3,822,268. Insiders own 1.50% of the company’s stock.
Shares of NYSE COR traded up $2.34 during mid-day trading on Friday, reaching $102.37. 289,144 shares of the company’s stock were exchanged, compared to its average volume of 350,731. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $3,425.34, a P/E ratio of 22.65, a P/E/G ratio of 1.18 and a beta of 0.39. CoreSite has a twelve month low of $89.76 and a twelve month high of $120.85.
CoreSite (NYSE:COR) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. The business had revenue of $125.95 million during the quarter, compared to the consensus estimate of $125.71 million. CoreSite had a return on equity of 16.77% and a net margin of 15.54%. CoreSite’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. equities analysts anticipate that CoreSite will post 5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 28th. This represents a $3.92 annualized dividend and a dividend yield of 3.83%. CoreSite’s dividend payout ratio is currently 86.73%.
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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