New York State Teachers Retirement System Reduces Holdings in CoreSite Realty Corp (COR)

New York State Teachers Retirement System cut its holdings in CoreSite Realty Corp (NYSE:COR) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,153 shares of the real estate investment trust’s stock after selling 3,200 shares during the quarter. New York State Teachers Retirement System’s holdings in CoreSite Realty were worth $9,113,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bremer Trust National Association bought a new stake in CoreSite Realty in the fourth quarter worth about $54,000. Benjamin F. Edwards & Company Inc. raised its position in CoreSite Realty by 42.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 672 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 200 shares in the last quarter. Private Capital Group LLC raised its position in CoreSite Realty by 28.1% in the first quarter. Private Capital Group LLC now owns 702 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 154 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in CoreSite Realty in the fourth quarter worth about $137,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in CoreSite Realty by 15.0% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,104 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 93.22% of the company’s stock.

NYSE COR opened at $118.37 on Thursday. 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 $4.34 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 1.72 and a beta of 0.73. CoreSite Realty Corp has a 1 year low of $82.64 and a 1 year high of $118.69.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.04). CoreSite Realty had a return on equity of 22.25% and a net margin of 13.96%. The company had revenue of $138.90 million for the quarter, compared to analyst estimates of $140.06 million. During the same quarter in the previous year, the firm posted $1.27 EPS. CoreSite Realty’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that CoreSite Realty Corp will post 5.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, June 27th. This is a boost from CoreSite Realty’s previous quarterly dividend of $1.10. CoreSite Realty’s payout ratio is 86.96%.

In other CoreSite Realty news, SVP Brian Warren sold 2,000 shares of CoreSite Realty stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $113.08, for a total transaction of $226,160.00. Following the transaction, the senior vice president now owns 25,306 shares of the company’s stock, valued at approximately $2,861,602.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark R. Jones sold 600 shares of CoreSite Realty stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $105.42, for a total value of $63,252.00. Following the transaction, the chief accounting officer now directly owns 15,021 shares in the company, valued at approximately $1,583,513.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,087 shares of company stock worth $3,907,077. Company insiders own 1.20% of the company’s stock.

Several analysts have issued reports on COR shares. ValuEngine upgraded CoreSite Realty from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus set a $105.00 price objective on CoreSite Realty and gave the stock a “hold” rating in a report on Friday, April 26th. Cowen restated a “hold” rating and set a $106.00 price objective on shares of CoreSite Realty in a report on Sunday, February 10th. Jefferies Financial Group restated a “hold” rating and set a $100.00 price objective on shares of CoreSite Realty in a report on Friday, February 8th. Finally, Zacks Investment Research downgraded CoreSite Realty from a “buy” rating to a “hold” rating in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $109.91.

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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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