Charter Trust Co. Raises Position in CoreSite Realty Corp (COR)
Charter Trust Co. increased its position in CoreSite Realty Corp (NYSE:COR) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,768 shares of the real estate investment trust’s stock after purchasing an additional 1,259 shares during the quarter. Charter Trust Co.’s holdings in CoreSite Realty were worth $1,227,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation bought a new position in CoreSite Realty in the third quarter worth $170,000. Schroder Investment Management Group bought a new position in shares of CoreSite Realty during the second quarter valued at $188,000. Park Avenue Securities LLC bought a new position in shares of CoreSite Realty during the third quarter valued at $207,000. Jaffetilchin Investment Partners LLC bought a new position in shares of CoreSite Realty during the fourth quarter valued at $208,000. Finally, FDx Advisors Inc. bought a new position in shares of CoreSite Realty during the third quarter valued at $209,000. 98.02% of the stock is owned by hedge funds and other institutional investors.
CoreSite Realty Corp (NYSE:COR) traded down $0.51 during trading on Wednesday, hitting $106.79. The company had a trading volume of 321,266 shares, compared to its average volume of 351,316. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.29. CoreSite Realty Corp has a fifty-two week low of $83.42 and a fifty-two week high of $120.85. The company has a market capitalization of $5,130.00, a PE ratio of 58.04, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from CoreSite Realty’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, December 28th. CoreSite Realty’s payout ratio is currently 213.04%.
In related news, SVP Steven James Smith sold 7,121 shares of CoreSite Realty stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $112.73, for a total value of $802,750.33. Following the completion of the transaction, the senior vice president now directly owns 48,137 shares of the company’s stock, valued at $5,426,484.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of CoreSite Realty stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.39, for a total value of $875,120.00. Following the completion of the transaction, the chief financial officer now directly owns 98,562 shares of the company’s stock, valued at $10,781,697.18. The disclosure for this sale can be found here. Insiders sold 20,121 shares of company stock valued at $2,224,720 over the last ninety days. 1.50% of the stock is currently owned by company insiders.
COR has been the subject of a number of analyst reports. Citigroup lifted their price objective on CoreSite Realty from $109.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 27th. Credit Suisse Group set a $111.00 price objective on CoreSite Realty and gave the company a “hold” rating in a report on Friday, October 27th. Zacks Investment Research cut CoreSite Realty from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. SunTrust Banks reissued a “buy” rating and set a $133.00 price objective on shares of CoreSite Realty in a report on Thursday, December 7th. Finally, ValuEngine raised CoreSite Realty from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $110.75.
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About CoreSite Realty
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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