Pacer Advisors Inc. increased its position in shares of CoreSite Realty Corp (NYSE:COR) by 90.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,702 shares of the real estate investment trust’s stock after purchasing an additional 28,320 shares during the period. Pacer Advisors Inc. owned about 0.16% of CoreSite Realty worth $7,275,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Steward Partners Investment Advisory LLC bought a new stake in shares of CoreSite Realty during the second quarter valued at approximately $51,000. Destination Wealth Management bought a new stake in CoreSite Realty in the second quarter valued at $103,000. Huntington National Bank grew its position in CoreSite Realty by 201.7% in the second quarter. Huntington National Bank now owns 1,255 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 839 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in CoreSite Realty in the second quarter valued at $161,000. Finally, Zions Bancorporation N.A. grew its position in CoreSite Realty by 5.7% in the second quarter. Zions Bancorporation N.A. now owns 1,686 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.
CoreSite Realty stock traded up $0.36 on Friday, reaching $117.77. The company’s stock had a trading volume of 16,800 shares, compared to its average volume of 272,750. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.78 and a beta of 0.48. The business’s fifty day moving average price is $117.13 and its 200 day moving average price is $114.00. CoreSite Realty Corp has a twelve month low of $82.64 and a twelve month high of $122.45.
The firm also recently disclosed a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $1.22 dividend. This represents a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 27th. CoreSite Realty’s dividend payout ratio is currently 96.44%.
In other CoreSite Realty news, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.74, for a total value of $88,592,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Brian Warren sold 2,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $108.56, for a total value of $217,120.00. Following the completion of the transaction, the senior vice president now directly owns 24,406 shares in the company, valued at approximately $2,649,515.36. The disclosure for this sale can be found here. In the last three months, insiders sold 806,504 shares of company stock worth $89,305,107. Insiders own 1.20% of the company’s stock.
A number of analysts have weighed in on COR shares. Stifel Nicolaus set a $110.00 price target on CoreSite Realty and gave the company a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research cut CoreSite Realty from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. BMO Capital Markets reiterated a “hold” rating and issued a $112.00 price target on shares of CoreSite Realty in a research report on Thursday, July 25th. ValuEngine cut CoreSite Realty from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Credit Suisse Group lowered their price target on CoreSite Realty from $111.00 to $103.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. CoreSite Realty has a consensus rating of “Hold” and an average target price of $108.80.
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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