CoreSite Realty Corporation (COR) CEO Sells $447,011.40 in Stock
CoreSite Realty Corporation (NYSE:COR) CEO Paul E. Szurek sold 3,805 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.48, for a total value of $447,011.40. Following the completion of the transaction, the chief executive officer now owns 93,405 shares in the company, valued at $10,973,219.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of CoreSite Realty Corporation (NYSE:COR) opened at 110.59 on Friday. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 63.63 and a beta of 0.56. The company has a 50-day moving average price of $112.61 and a 200-day moving average price of $101.89. CoreSite Realty Corporation has a 52-week low of $64.81 and a 52-week high of $120.85.
CoreSite Realty Corporation (NYSE:COR) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. CoreSite Realty Corporation had a return on equity of 14.14% and a net margin of 15.15%. The business had revenue of $117.89 million for the quarter, compared to the consensus estimate of $117.32 million. During the same period in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that CoreSite Realty Corporation will post $1.83 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, September 28th. CoreSite Realty Corporation’s dividend payout ratio (DPR) is 206.90%.
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A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in CoreSite Realty Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 5,510,182 shares of the real estate investment trust’s stock worth $496,191,000 after acquiring an additional 198,067 shares in the last quarter. BlackRock Inc. boosted its holdings in CoreSite Realty Corporation by 143,427.7% in the first quarter. BlackRock Inc. now owns 4,401,994 shares of the real estate investment trust’s stock worth $396,400,000 after acquiring an additional 4,398,927 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in CoreSite Realty Corporation by 2.9% in the second quarter. Wells Fargo & Company MN now owns 1,632,276 shares of the real estate investment trust’s stock worth $168,990,000 after acquiring an additional 45,502 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in CoreSite Realty Corporation by 5.7% in the second quarter. JPMorgan Chase & Co. now owns 876,830 shares of the real estate investment trust’s stock worth $90,778,000 after acquiring an additional 47,340 shares in the last quarter. Finally, State Street Corp boosted its holdings in CoreSite Realty Corporation by 8.3% in the first quarter. State Street Corp now owns 826,392 shares of the real estate investment trust’s stock worth $74,416,000 after acquiring an additional 63,493 shares in the last quarter. 98.47% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on COR shares. Zacks Investment Research cut CoreSite Realty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded CoreSite Realty Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating on shares of CoreSite Realty Corporation in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $117.00 target price on shares of CoreSite Realty Corporation in a report on Wednesday, June 14th. Finally, KeyCorp reissued a “hold” rating on shares of CoreSite Realty Corporation in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $98.00.
CoreSite Realty Corporation Company Profile
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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