Johnson Investment Counsel Inc. Raises Stake in CoreSite Realty Co. (NYSE:COR)

Johnson Investment Counsel Inc. grew its stake in shares of CoreSite Realty Co. (NYSE:COR) by 97.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,765 shares of the real estate investment trust’s stock after purchasing an additional 5,300 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in CoreSite Realty were worth $1,463,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COR. Principal Financial Group Inc. boosted its stake in shares of CoreSite Realty by 3.5% during the first quarter. Principal Financial Group Inc. now owns 1,639,454 shares of the real estate investment trust’s stock valued at $196,490,000 after purchasing an additional 55,995 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of CoreSite Realty by 232.5% during the first quarter. Rockefeller Capital Management L.P. now owns 2,740 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 1,916 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of CoreSite Realty by 22.8% during the first quarter. Teacher Retirement System of Texas now owns 4,712 shares of the real estate investment trust’s stock valued at $565,000 after purchasing an additional 875 shares during the period. UBS Group AG boosted its stake in shares of CoreSite Realty by 8.7% during the first quarter. UBS Group AG now owns 75,266 shares of the real estate investment trust’s stock valued at $9,021,000 after purchasing an additional 6,026 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of CoreSite Realty by 72.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 234 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 98 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on COR. Cowen increased their price objective on CoreSite Realty from $153.00 to $158.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Zacks Investment Research lowered CoreSite Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, October 5th. Credit Suisse Group raised their price target on CoreSite Realty from $157.00 to $161.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Royal Bank of Canada raised their price target on CoreSite Realty from $130.00 to $136.00 and gave the stock a “sector perform” rating in a research note on Monday, August 16th. They noted that the move was a valuation call. Finally, Wells Fargo & Company raised their price target on CoreSite Realty from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, July 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, CoreSite Realty currently has an average rating of “Hold” and a consensus target price of $141.33.

COR opened at $139.22 on Thursday. The stock has a fifty day simple moving average of $145.06 and a two-hundred day simple moving average of $133.98. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 80.93. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 67.58, a price-to-earnings-growth ratio of 1.26 and a beta of 0.28. CoreSite Realty Co. has a 12-month low of $107.23 and a 12-month high of $155.40.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.76). CoreSite Realty had a return on equity of 143.10% and a net margin of 13.98%. On average, analysts predict that CoreSite Realty Co. will post 5.59 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $5.08 annualized dividend and a dividend yield of 3.65%. CoreSite Realty’s payout ratio is presently 95.67%.

In other CoreSite Realty news, SVP Juan Font sold 600 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $139.11, for a total value of $83,466.00. Following the transaction, the senior vice president now directly owns 25,971 shares of the company’s stock, valued at $3,612,825.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Steven James Smith sold 5,435 shares of the firm’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $138.98, for a total value of $755,356.30. Following the completion of the transaction, the executive now directly owns 51,541 shares in the company, valued at $7,163,168.18. The disclosure for this sale can be found here. Insiders have sold 10,856 shares of company stock valued at $1,508,604 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

CoreSite Realty Profile

CoreSite Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, construction and operation of strategically located data centers. The firm also offers collocation and interconnection solutions for networks, cloud services, and industry solutions. The company was founded in 2001 and is headquartered in Denver, CO.

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Institutional Ownership by Quarter for CoreSite Realty (NYSE:COR)

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