Wells Fargo & Company MN Cuts Position in CoreSite Realty Corp (NYSE:COR)

Wells Fargo & Company MN trimmed its stake in shares of CoreSite Realty Corp (NYSE:COR) by 66.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 534,558 shares of the real estate investment trust’s stock after selling 1,060,817 shares during the period. Wells Fargo & Company MN owned approximately 1.45% of CoreSite Realty worth $57,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in shares of CoreSite Realty by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 5,337,300 shares of the real estate investment trust’s stock valued at $593,187,000 after purchasing an additional 204,628 shares during the last quarter. BlackRock Inc. raised its position in shares of CoreSite Realty by 3.5% in the 4th quarter. BlackRock Inc. now owns 3,883,540 shares of the real estate investment trust’s stock valued at $338,762,000 after purchasing an additional 133,124 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of CoreSite Realty by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,519,234 shares of the real estate investment trust’s stock valued at $162,588,000 after purchasing an additional 264,542 shares during the last quarter. Mairs & Power INC raised its position in shares of CoreSite Realty by 9.4% in the 4th quarter. Mairs & Power INC now owns 949,513 shares of the real estate investment trust’s stock valued at $82,826,000 after purchasing an additional 81,519 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new position in shares of CoreSite Realty in the 4th quarter valued at approximately $53,158,000. 94.41% of the stock is owned by hedge funds and other institutional investors.

In other news, CAO Mark R. Jones sold 600 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $111.39, for a total transaction of $66,834.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,882 shares of the company’s stock, valued at $1,769,095.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Steven James Smith sold 5,745 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $117.03, for a total value of $672,337.35. Following the transaction, the executive now directly owns 41,649 shares of the company’s stock, valued at $4,874,182.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,845 shares of company stock valued at $1,710,706. Corporate insiders own 1.20% of the company’s stock.

COR has been the subject of several research analyst reports. Stifel Nicolaus set a $105.00 price objective on shares of CoreSite Realty and gave the company a “hold” rating in a research report on Friday, April 26th. ValuEngine raised shares of CoreSite Realty from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $109.91.

COR traded down $0.20 on Monday, hitting $114.97. The company had a trading volume of 167,600 shares, compared to its average volume of 288,370. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.69 and a beta of 0.57. The stock’s fifty day simple moving average is $116.16. CoreSite Realty Corp has a 1 year low of $82.64 and a 1 year high of $120.93.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.04). The business had revenue of $138.90 million for the quarter, compared to analysts’ expectations of $140.06 million. CoreSite Realty had a return on equity of 22.25% and a net margin of 13.96%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.27 earnings per share. On average, equities research analysts predict that CoreSite Realty Corp will post 5.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $1.22 per share. The ex-dividend date is Thursday, June 27th. This is an increase from CoreSite Realty’s previous quarterly dividend of $1.10. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.24%. CoreSite Realty’s payout ratio is currently 96.44%.

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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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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