PNC Financial Services Group Inc. Boosts Position in CoreSite Realty Corp (NYSE:COR)

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PNC Financial Services Group Inc. increased its stake in shares of CoreSite Realty Corp (NYSE:COR) by 119.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,094 shares of the real estate investment trust’s stock after purchasing an additional 11,489 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CoreSite Realty were worth $2,258,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc lifted its holdings in shares of CoreSite Realty by 4.0% during the 3rd quarter. Vanguard Group Inc now owns 5,337,300 shares of the real estate investment trust’s stock valued at $593,187,000 after purchasing an additional 204,628 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of CoreSite Realty by 32.1% during the 4th quarter. Rhumbline Advisers now owns 104,889 shares of the real estate investment trust’s stock valued at $9,149,000 after purchasing an additional 25,459 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CoreSite Realty by 42.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 200 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of CoreSite Realty by 2.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 45,172 shares of the real estate investment trust’s stock valued at $3,940,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of CoreSite Realty by 3.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the real estate investment trust’s stock valued at $497,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

NYSE COR opened at $115.18 on Friday. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.17 and a current ratio of 0.17. CoreSite Realty Corp has a 1 year low of $82.64 and a 1 year high of $120.93. The firm has a market capitalization of $4.26 billion, a P/E ratio of 22.91, a PEG ratio of 1.69 and a beta of 0.63.

CoreSite Realty (NYSE:COR) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.04). CoreSite Realty had a net margin of 13.96% and a return on equity of 22.25%. The firm had revenue of $138.90 million during the quarter, compared to analyst estimates of $140.06 million. During the same period in the previous year, the company earned $1.27 earnings per share. CoreSite Realty’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that CoreSite Realty Corp will post 5.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 4.24%. This is an increase from CoreSite Realty’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Thursday, June 27th. CoreSite Realty’s dividend payout ratio is presently 86.96%.

In related news, SVP Brian Warren sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $113.08, for a total value of $226,160.00. Following the transaction, the senior vice president now directly owns 25,306 shares of the company’s stock, valued at approximately $2,861,602.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark R. Jones sold 500 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $119.15, for a total value of $59,575.00. Following the completion of the transaction, the insider now directly owns 15,382 shares in the company, valued at $1,832,765.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,832 shares of company stock worth $1,114,418. 1.20% of the stock is owned by insiders.

Several analysts have recently commented on the company. ValuEngine upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus set a $105.00 price objective on CoreSite Realty and gave the company a “hold” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. CoreSite Realty presently has an average rating of “Hold” and an average price target of $109.91.

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About CoreSite Realty

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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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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