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.
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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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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