First Trust Advisors LP cut its position in CoreSite Realty Corp (NYSE:COR) by 51.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,730 shares of the real estate investment trust’s stock after selling 65,329 shares during the quarter. First Trust Advisors LP’s holdings in CoreSite Realty were worth $7,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mairs & Power INC lifted its stake in CoreSite Realty by 2.6% in the 4th quarter. Mairs & Power INC now owns 1,167,060 shares of the real estate investment trust’s stock worth $130,851,000 after purchasing an additional 29,915 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CoreSite Realty by 4.5% in the 1st quarter. Bank of New York Mellon Corp now owns 655,460 shares of the real estate investment trust’s stock worth $75,967,000 after purchasing an additional 28,164 shares in the last quarter. Norges Bank purchased a new stake in CoreSite Realty in the 4th quarter worth approximately $70,377,000. M&G Investment Management Ltd. increased its holdings in shares of CoreSite Realty by 0.5% in the 1st quarter. M&G Investment Management Ltd. now owns 526,125 shares of the real estate investment trust’s stock worth $61,031,000 after buying an additional 2,455 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of CoreSite Realty by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 417,748 shares of the real estate investment trust’s stock worth $46,837,000 after buying an additional 30,262 shares during the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.
In other CoreSite Realty news, Director John David Thompson sold 333 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.84, for a total value of $40,239.72. Following the sale, the director now owns 8,962 shares of the company’s stock, valued at approximately $1,082,968.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brian Warren sold 1,547 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $110.13, for a total transaction of $170,371.11. Following the completion of the sale, the senior vice president now directly owns 22,169 shares in the company, valued at approximately $2,441,471.97. The disclosure for this sale can be found here. In the last three months, insiders sold 2,660,918 shares of company stock worth $314,741,702. Insiders own 1.50% of the company’s stock.
CoreSite Realty (NYSE:COR) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.79). The business had revenue of $147.40 million for the quarter, compared to the consensus estimate of $146.34 million. CoreSite Realty had a net margin of 12.74% and a return on equity of 32.98%. CoreSite Realty’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. As a group, analysts forecast that CoreSite Realty Corp will post 5.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, June 29th. CoreSite Realty’s dividend payout ratio (DPR) is presently 95.69%.
A number of brokerages have recently commented on COR. Zacks Investment Research lowered shares of CoreSite Realty from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James lowered shares of CoreSite Realty from an “outperform” rating to a “market perform” rating in a report on Thursday, April 16th. Credit Suisse Group increased their price target on shares of CoreSite Realty from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. ValuEngine raised shares of CoreSite Realty from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Wells Fargo & Co increased their price target on shares of CoreSite Realty from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. CoreSite Realty presently has an average rating of “Hold” and an average target price of $117.50.
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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