CoreSite (COR) CFO Jeffrey S. Finnin Sells 5,848 Shares

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CoreSite (NYSE:COR) CFO Jeffrey S. Finnin sold 5,848 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $97.50, for a total transaction of $570,180.00. Following the completion of the transaction, the chief financial officer now owns 78,149 shares in the company, valued at approximately $7,619,527.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Shares of CoreSite stock traded down $2.01 during mid-day trading on Friday, reaching $102.29. 325,171 shares of the stock were exchanged, compared to its average volume of 417,483. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $3,526.36, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. CoreSite has a fifty-two week low of $89.76 and a fifty-two week high of $120.85.

CoreSite (NYSE:COR) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $125.95 million for the quarter, compared to analyst estimates of $125.71 million. CoreSite had a net margin of 15.54% and a return on equity of 16.77%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. equities analysts anticipate that CoreSite will post 5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, March 28th. CoreSite’s payout ratio is 86.73%.

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in CoreSite by 41.2% in the fourth quarter. US Bancorp DE now owns 2,257 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 658 shares in the last quarter. Janus Henderson Group PLC bought a new position in CoreSite in the third quarter valued at approximately $9,571,000. Copper Rock Capital Partners LLC lifted its stake in CoreSite by 47.7% in the fourth quarter. Copper Rock Capital Partners LLC now owns 72,787 shares of the real estate investment trust’s stock valued at $8,315,000 after buying an additional 23,491 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in CoreSite by 4.4% in the third quarter. Eagle Asset Management Inc. now owns 66,444 shares of the real estate investment trust’s stock valued at $7,428,000 after buying an additional 2,771 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in shares of CoreSite in the third quarter valued at approximately $630,000. 99.40% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. Raymond James Financial raised shares of CoreSite from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. UBS raised shares of CoreSite from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. Jefferies Group reissued a “buy” rating on shares of CoreSite in a research note on Thursday, February 8th. Citigroup cut their price target on shares of CoreSite from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of CoreSite in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $124.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $112.77.

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About CoreSite

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.

Insider Buying and Selling by Quarter for CoreSite (NYSE:COR)

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