Principal Financial Group Inc. Lowers Position in CoreSite Realty Corporation (COR)

Principal Financial Group Inc. lowered its stake in CoreSite Realty Corporation (NYSE:COR) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 501,736 shares of the real estate investment trust’s stock after selling 34,988 shares during the period. Principal Financial Group Inc. owned 1.47% of CoreSite Realty Corporation worth $56,144,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COR. Fisher Asset Management LLC acquired a new stake in CoreSite Realty Corporation during the 3rd quarter worth $32,098,000. Goldman Sachs Group Inc. grew its holdings in CoreSite Realty Corporation by 53.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 507,385 shares of the real estate investment trust’s stock worth $52,529,000 after acquiring an additional 176,489 shares during the period. Renaissance Technologies LLC grew its holdings in CoreSite Realty Corporation by 45.6% during the 2nd quarter. Renaissance Technologies LLC now owns 358,900 shares of the real estate investment trust’s stock worth $37,157,000 after acquiring an additional 112,400 shares during the period. Nationwide Fund Advisors grew its holdings in CoreSite Realty Corporation by 193.7% during the 3rd quarter. Nationwide Fund Advisors now owns 150,780 shares of the real estate investment trust’s stock worth $16,872,000 after acquiring an additional 99,437 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in CoreSite Realty Corporation during the 3rd quarter worth $10,496,000. 99.13% of the stock is owned by institutional investors and hedge funds.

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Shares of CoreSite Realty Corporation (NYSE COR) opened at $117.42 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.29 and a current ratio of 0.29. CoreSite Realty Corporation has a 52-week low of $64.81 and a 52-week high of $120.85. The company has a market cap of $4,039.81, a PE ratio of 26.88, a price-to-earnings-growth ratio of 1.60 and a beta of 0.43.

CoreSite Realty Corporation (NYSE:COR) last issued its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.64). CoreSite Realty Corporation had a return on equity of 15.35% and a net margin of 15.21%. The business had revenue of $123.07 million for the quarter, compared to the consensus estimate of $121.27 million. During the same period last year, the firm earned $0.90 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. sell-side analysts anticipate that CoreSite Realty Corporation will post 4.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, September 28th. This represents a $3.60 annualized dividend and a yield of 3.07%. CoreSite Realty Corporation’s dividend payout ratio (DPR) is presently 195.65%.

Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of CoreSite Realty Corporation in a report on Thursday, October 12th. BidaskClub raised shares of CoreSite Realty Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Zacks Investment Research raised shares of CoreSite Realty Corporation from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Wednesday, September 27th. Finally, Cowen and Company reissued a “buy” rating and issued a $111.00 price target on shares of CoreSite Realty Corporation in a report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $107.20.

In other CoreSite Realty Corporation news, SVP Derek Mccandless sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.37, for a total transaction of $546,850.00. Following the sale, the senior vice president now directly owns 36,613 shares of the company’s stock, valued at approximately $4,004,363.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey S. Finnin sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.39, for a total transaction of $875,120.00. Following the sale, the chief financial officer now directly owns 98,562 shares in the company, valued at $10,781,697.18. The disclosure for this sale can be found here. Insiders have sold a total of 31,805 shares of company stock worth $1,876,481 over the last three months. Insiders own 1.50% of the company’s stock.

CoreSite Realty Corporation Profile

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

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