Summit Securities Group LLC trimmed its position in CoreSite Realty Corporation (NYSE:COR) by 43.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the real estate investment trust’s stock after selling 2,200 shares during the quarter. Summit Securities Group LLC’s holdings in CoreSite Realty Corporation were worth $325,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in shares of CoreSite Realty Corporation in the 2nd quarter worth about $103,000. US Bancorp DE raised its holdings in shares of CoreSite Realty Corporation by 6.7% in the 2nd quarter. US Bancorp DE now owns 1,199 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 75 shares during the period. LS Investment Advisors LLC raised its holdings in shares of CoreSite Realty Corporation by 4.6% in the 2nd quarter. LS Investment Advisors LLC now owns 1,280 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 56 shares during the period. IFP Advisors Inc raised its holdings in shares of CoreSite Realty Corporation by 14.6% in the 2nd quarter. IFP Advisors Inc now owns 1,362 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 174 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CoreSite Realty Corporation by 115.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,461 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 783 shares during the period. Institutional investors own 98.29% of the company’s stock.
In other news, CEO Paul E. Szurek sold 3,805 shares of CoreSite Realty Corporation stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total value of $447,011.40. Following the transaction, the chief executive officer now directly owns 93,405 shares in the company, valued at $10,973,219.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by insiders.
CoreSite Realty Corporation (NYSE:COR) last announced its quarterly earnings results 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). CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. The company had revenue of $123.07 million during the quarter, compared to analyst estimates of $121.27 million. During the same period in the prior year, the firm earned $0.90 EPS. CoreSite Realty Corporation’s quarterly revenue was up 21.5% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.90 dividend. The ex-dividend date was Thursday, September 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.25%. CoreSite Realty Corporation’s dividend payout ratio is currently 195.65%.
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COR has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and issued a $117.00 price objective on shares of CoreSite Realty Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Wednesday, September 27th. Royal Bank Of Canada restated a “buy” rating on shares of CoreSite Realty Corporation in a report on Tuesday, July 18th. BidaskClub upgraded CoreSite Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Cowen and Company restated a “buy” rating and issued a $111.00 price objective on shares of CoreSite Realty Corporation in a report on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $107.20.
About CoreSite Realty Corporation
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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