KCS Wealth Advisory Takes Position in CoreSite Realty Corp (COR)
KCS Wealth Advisory acquired a new position in shares of CoreSite Realty Corp (NYSE:COR) in the fourth quarter, HoldingsChannel reports. The firm acquired 17,522 shares of the real estate investment trust’s stock, valued at approximately $376,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Zions Bancorporation purchased a new stake in shares of CoreSite Realty during the 3rd quarter worth $170,000. Schroder Investment Management Group acquired a new position in CoreSite Realty during the 2nd quarter valued at about $188,000. Jaffetilchin Investment Partners LLC acquired a new position in CoreSite Realty during the 4th quarter valued at about $208,000. Park Avenue Securities LLC acquired a new position in CoreSite Realty during the 3rd quarter valued at about $207,000. Finally, FDx Advisors Inc. acquired a new position in CoreSite Realty during the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 97.74% of the company’s stock.
CoreSite Realty Corp (NYSE:COR) opened at $105.67 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $3,722.05, a PE ratio of 24.76, a PEG ratio of 1.27 and a beta of 0.44. CoreSite Realty Corp has a 1-year low of $81.63 and a 1-year high of $120.85.
CoreSite Realty (NYSE:COR) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.64). The firm had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. CoreSite Realty had a net margin of 15.21% and a return on equity of 15.35%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. sell-side analysts anticipate that CoreSite Realty Corp will post 4.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.98 dividend. The ex-dividend date is Thursday, December 28th. This is a positive change from CoreSite Realty’s previous quarterly dividend of $0.90. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.71%. CoreSite Realty’s dividend payout ratio is currently 213.04%.
Several research analysts recently issued reports on COR shares. Citigroup upped their target price on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Credit Suisse Group set a $111.00 target price on CoreSite Realty and gave the company a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $133.00 target price on shares of CoreSite Realty in a research report on Thursday, December 7th. Finally, ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. CoreSite Realty presently has an average rating of “Buy” and a consensus price target of $110.75.
In other news, CFO Jeffrey S. Finnin sold 8,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total value of $875,120.00. Following the transaction, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven James Smith sold 7,121 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $112.73, for a total value of $802,750.33. Following the completion of the transaction, the senior vice president now directly owns 48,137 shares in the company, valued at $5,426,484.01. The disclosure for this sale can be found here. Insiders sold 20,121 shares of company stock worth $2,224,720 over the last three months. Corporate insiders own 1.50% of the company’s stock.
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About CoreSite Realty
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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