CoreSite Realty Co. (NYSE:COR) Short Interest Update

CoreSite Realty Co. (NYSE:COR) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 783,100 shares, an increase of 25.3% from the March 31st total of 625,100 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily volume of 337,500 shares, the short-interest ratio is presently 2.3 days.

Several research firms have recently issued reports on COR. Zacks Investment Research upgraded shares of CoreSite Realty from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays raised their price target on CoreSite Realty from $113.00 to $116.00 and gave the company an “underweight” rating in a report on Tuesday, April 27th. Mizuho upped their price target on shares of CoreSite Realty from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 21st. Credit Suisse Group raised their price objective on shares of CoreSite Realty from $156.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Cowen upgraded shares of CoreSite Realty from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $152.00 in a research note on Tuesday, February 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $133.44.

Shares of COR traded down $1.90 during trading hours on Tuesday, hitting $119.10. The stock had a trading volume of 497,025 shares, compared to its average volume of 343,748. The firm has a market capitalization of $5.12 billion, a PE ratio of 59.25, a PEG ratio of 1.04 and a beta of 0.23. The company has a debt-to-equity ratio of 16.41, a current ratio of 0.22 and a quick ratio of 0.22. CoreSite Realty has a 12 month low of $107.23 and a 12 month high of $141.50. The stock has a fifty day moving average price of $121.67 and a 200 day moving average price of $122.83.

CoreSite Realty (NYSE:COR) last posted its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.82). CoreSite Realty had a return on equity of 51.47% and a net margin of 13.19%. The business had revenue of $157.60 million during the quarter, compared to analysts’ expectations of $156.63 million. During the same period in the previous year, the business posted $1.29 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that CoreSite Realty will post 5.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a $1.23 dividend. This represents a $4.92 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Tuesday, March 30th. CoreSite Realty’s dividend payout ratio (DPR) is currently 96.47%.

In other news, SVP Brian Warren sold 1,425 shares of the firm’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $109.67, for a total value of $156,279.75. Following the completion of the transaction, the senior vice president now owns 22,826 shares in the company, valued at approximately $2,503,327.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Aleksandra Krusko sold 301 shares of CoreSite Realty stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $115.89, for a total value of $34,882.89. Following the sale, the senior vice president now owns 8,165 shares in the company, valued at $946,241.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,657 shares of company stock worth $4,708,727. 1.50% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. CI Investments Inc. boosted its position in shares of CoreSite Realty by 30.0% in the fourth quarter. CI Investments Inc. now owns 360 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 83 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of CoreSite Realty by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the real estate investment trust’s stock worth $1,340,000 after acquiring an additional 100 shares during the period. State of Michigan Retirement System grew its position in shares of CoreSite Realty by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 15,609 shares of the real estate investment trust’s stock worth $1,955,000 after purchasing an additional 100 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in CoreSite Realty by 50.0% in the 4th quarter. Meeder Asset Management Inc. now owns 306 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 102 shares in the last quarter. Finally, CWM LLC grew its holdings in CoreSite Realty by 98.1% during the 4th quarter. CWM LLC now owns 212 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

CoreSite Realty Company Profile

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 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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