Municipal Employees Retirement System of Michigan Purchases Shares of 8,820 CoreSite Realty Corp (COR)

Municipal Employees Retirement System of Michigan bought a new position in CoreSite Realty Corp (NYSE:COR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,820 shares of the real estate investment trust’s stock, valued at approximately $769,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bremer Trust National Association bought a new stake in shares of CoreSite Realty during the 4th quarter worth $54,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of CoreSite Realty by 42.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 200 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of CoreSite Realty during the 4th quarter worth $137,000. Jane Street Group LLC bought a new stake in shares of CoreSite Realty during the 3rd quarter worth $212,000. Finally, Sit Investment Associates Inc. boosted its holdings in shares of CoreSite Realty by 148.4% during the 4th quarter. Sit Investment Associates Inc. now owns 1,925 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 1,150 shares during the period. Institutional investors and hedge funds own 94.92% of the company’s stock.

In other news, CRO Steven James Smith sold 3,846 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.95, for a total value of $388,253.70. Following the transaction, the executive now owns 40,648 shares of the company’s stock, valued at approximately $4,103,415.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derek Mccandless sold 2,069 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.97, for a total transaction of $208,906.93. Following the completion of the transaction, the senior vice president now directly owns 28,199 shares in the company, valued at approximately $2,847,253.03. The disclosure for this sale can be found here. Insiders sold a total of 35,487 shares of company stock worth $3,614,083 in the last ninety days. Insiders own 1.20% of the company’s stock.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 price objective for the company. in a report on Monday, February 11th. Cowen reiterated a “hold” rating and set a $106.00 target price on shares of CoreSite Realty in a research note on Sunday, February 10th. Jefferies Financial Group reiterated a “hold” rating and set a $100.00 target price on shares of CoreSite Realty in a research note on Friday, February 8th. Zacks Investment Research cut shares of CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of CoreSite Realty in a research note on Thursday, February 7th. One investment analyst has 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. The stock has a consensus rating of “Hold” and an average price target of $110.82.

NYSE:COR traded up $1.17 during mid-day trading on Friday, reaching $109.28. 210,558 shares of the company were exchanged, compared to its average volume of 223,599. CoreSite Realty Corp has a 12 month low of $82.64 and a 12 month high of $117.82. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 3.38. The firm has a market cap of $4.01 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.49 and a beta of 0.74.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. CoreSite Realty had a net margin of 14.31% and a return on equity of 20.97%. The firm had revenue of $139.10 million for the quarter, compared to analyst estimates of $139.89 million. During the same quarter in the prior year, the firm earned $1.18 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts predict that CoreSite Realty Corp will post 5.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 28th. CoreSite Realty’s dividend payout ratio (DPR) is presently 86.96%.

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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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