BlackRock Advisors LLC raised its stake in shares of CoreSite Realty Corp. (NYSE:COR) by 32.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,712 shares of the real estate investment trust’s stock after buying an additional 13,674 shares during the period. BlackRock Advisors LLC owned 0.17% of CoreSite Realty Corp. worth $4,941,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in shares of CoreSite Realty Corp. during the second quarter worth about $159,000. PineBridge Investments L.P. raised its stake in shares of CoreSite Realty Corp. by 4.6% in the second quarter. PineBridge Investments L.P. now owns 3,870 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 171 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CoreSite Realty Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 5,163,842 shares of the real estate investment trust’s stock worth $457,981,000 after buying an additional 210,238 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of CoreSite Realty Corp. by 4.2% in the second quarter. Principal Financial Group Inc. now owns 222,222 shares of the real estate investment trust’s stock worth $19,708,000 after buying an additional 8,899 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of CoreSite Realty Corp. by 21.0% in the second quarter. Prudential Financial Inc. now owns 624,296 shares of the real estate investment trust’s stock worth $55,369,000 after buying an additional 108,280 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.
CoreSite Realty Corp. (NYSE:COR) opened at 77.20 on Tuesday. CoreSite Realty Corp. has a 12 month low of $54.23 and a 12 month high of $91.91. The company’s 50-day moving average price is $76.67 and its 200-day moving average price is $78.71. The stock has a market cap of $2.47 billion, a P/E ratio of 57.78 and a beta of 0.82.
CoreSite Realty Corp. (NYSE:COR) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. The firm earned $96.10 million during the quarter, compared to the consensus estimate of $96.09 million. CoreSite Realty Corp. had a return on equity of 9.02% and a net margin of 12.52%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Equities analysts forecast that CoreSite Realty Corp. will post $3.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.75%. The ex-dividend date was Wednesday, September 28th. CoreSite Realty Corp.’s dividend payout ratio is presently 160.61%.
A number of brokerages have recently issued reports on COR. Zacks Investment Research lowered CoreSite Realty Corp. from a “buy” rating to a “hold” rating in a research note on Friday. SunTrust Banks Inc. began coverage on CoreSite Realty Corp. in a research note on Thursday, July 21st. They issued a “buy” rating and a $100.00 price target on the stock. Raymond James Financial Inc. began coverage on CoreSite Realty Corp. in a research note on Friday, October 7th. They issued a “market perform” rating on the stock. Jefferies Group reaffirmed a “buy” rating on shares of CoreSite Realty Corp. in a research note on Tuesday, September 6th. Finally, Citigroup Inc. lifted their price target on CoreSite Realty Corp. from $75.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $79.61.
In other CoreSite Realty Corp. news, insider Thomas M. Ray sold 21,179 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $81.57, for a total transaction of $1,727,571.03. Following the completion of the sale, the insider now directly owns 391,186 shares of the company’s stock, valued at approximately $31,909,042.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul E. Szurek acquired 1,000 shares of CoreSite Realty Corp. stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $81.20 per share, with a total value of $81,200.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at $487,200. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.
About CoreSite Realty Corp.
CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company 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 (including Washington DC), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver.