Colony Group LLC Makes New $3.06 Million Investment in CoreSite Realty Corp (NYSE:COR)
Colony Group LLC bought a new position in CoreSite Realty Corp (NYSE:COR) in the fourth quarter, Holdings Channel.com reports. The fund bought 27,284 shares of the real estate investment trust’s stock, valued at approximately $3,059,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of CoreSite Realty by 1.6% in the fourth quarter. Janus Henderson Group PLC now owns 7,295 shares of the real estate investment trust’s stock valued at $818,000 after buying an additional 114 shares in the last quarter. Man Group plc boosted its stake in shares of CoreSite Realty by 5.7% during the 4th quarter. Man Group plc now owns 101,400 shares of the real estate investment trust’s stock worth $11,369,000 after acquiring an additional 5,500 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of CoreSite Realty by 7.2% in the 4th quarter. Baird Financial Group Inc. now owns 17,309 shares of the real estate investment trust’s stock worth $1,941,000 after acquiring an additional 1,170 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of CoreSite Realty in the 4th quarter worth $335,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of CoreSite Realty by 22.6% in the 4th quarter. Advisors Asset Management Inc. now owns 9,002 shares of the real estate investment trust’s stock worth $1,008,000 after acquiring an additional 1,660 shares during the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.
Several equities research analysts have recently commented on the company. Bank of America downgraded CoreSite Realty from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $130.00 to $100.00 in a report on Tuesday, February 11th. Citigroup raised CoreSite Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 17th. Zacks Investment Research upgraded CoreSite Realty from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co cut their price objective on CoreSite Realty from $120.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on CoreSite Realty from to in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. CoreSite Realty presently has a consensus rating of “Hold” and a consensus target price of $113.44.
CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.80). The company had revenue of $146.00 million for the quarter, compared to analyst estimates of $148.17 million. CoreSite Realty had a return on equity of 29.18% and a net margin of 13.24%. CoreSite Realty’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Research analysts forecast that CoreSite Realty Corp will post 5.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.22 per share. The ex-dividend date is Monday, March 30th. This represents a $4.88 annualized dividend and a yield of 4.78%. CoreSite Realty’s payout ratio is presently 95.69%.
In other news, CRO Steven James Smith sold 2,250 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $109.99, for a total value of $247,477.50. Following the transaction, the executive now owns 39,452 shares in the company, valued at approximately $4,339,325.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul E. Szurek sold 7,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $111.10, for a total transaction of $799,920.00. Following the sale, the chief executive officer now owns 170,251 shares of the company’s stock, valued at $18,914,886.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,783 shares of company stock worth $3,637,509. Corporate insiders own 1.20% of the company’s stock.
CoreSite Realty Company Profile
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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