D.A. Davidson & CO. lifted its stake in CoreSite Realty Corp (NYSE:COR) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,971 shares of the real estate investment trust’s stock after purchasing an additional 587 shares during the period. D.A. Davidson & CO.’s holdings in CoreSite Realty were worth $608,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of COR. Arizona State Retirement System boosted its holdings in shares of CoreSite Realty by 1.1% in the 4th quarter. Arizona State Retirement System now owns 26,340 shares of the real estate investment trust’s stock valued at $2,298,000 after buying an additional 278 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in shares of CoreSite Realty by 179.5% in the 4th quarter. Copeland Capital Management LLC now owns 52,938 shares of the real estate investment trust’s stock valued at $4,618,000 after buying an additional 34,000 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of CoreSite Realty in the 4th quarter valued at about $291,000. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of CoreSite Realty by 13.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 22,506 shares of the real estate investment trust’s stock valued at $1,963,000 after buying an additional 2,638 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of CoreSite Realty in the 4th quarter valued at about $2,540,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.
In other CoreSite Realty news, SVP Steven James Smith sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $100.00, for a total transaction of $320,000.00. Following the completion of the transaction, the senior vice president now directly owns 44,736 shares of the company’s stock, valued at approximately $4,473,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. CoreSite Realty had a net margin of 14.31% and a return on equity of 20.30%. The firm had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.89 million. During the same period last year, the firm posted $1.18 EPS. CoreSite Realty’s revenue was up 10.5% on a year-over-year basis. Analysts expect that CoreSite Realty Corp will post 5.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were given a dividend of $1.10 per share. The ex-dividend date was Friday, December 28th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 4.55%. CoreSite Realty’s dividend payout ratio (DPR) is currently 86.96%.
Several equities analysts recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 price objective on shares of CoreSite Realty in a research report on Sunday, October 21st. Jefferies Financial Group lowered shares of CoreSite Realty from a “buy” rating to a “hold” rating and decreased their price objective for the company from $107.00 to $102.00 in a research report on Monday, December 10th. Royal Bank of Canada lowered shares of CoreSite Realty from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 26th. Citigroup set a $104.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a research report on Monday, November 5th. Finally, Zacks Investment Research raised shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Thursday, January 3rd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $114.46.
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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