Principal Financial Group Inc. Grows Stock Holdings in CoreSite Realty Co. (NYSE:COR)

Principal Financial Group Inc. lifted its position in shares of CoreSite Realty Co. (NYSE:COR) by 12.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,846,706 shares of the real estate investment trust’s stock after purchasing an additional 207,252 shares during the period. Principal Financial Group Inc.’s holdings in CoreSite Realty were worth $248,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of CoreSite Realty by 72.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 234 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Bbva USA bought a new stake in CoreSite Realty in the 2nd quarter valued at $33,000. Concord Wealth Partners increased its holdings in CoreSite Realty by 4,225.0% in the 1st quarter. Concord Wealth Partners now owns 519 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 507 shares during the last quarter. TCTC Holdings LLC increased its holdings in CoreSite Realty by 426.3% in the 1st quarter. TCTC Holdings LLC now owns 600 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 486 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in CoreSite Realty in the 2nd quarter valued at $117,000. Institutional investors own 95.13% of the company’s stock.

In other CoreSite Realty news, CFO Jeffrey S. Finnin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $138.81, for a total value of $555,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Steven James Smith sold 5,435 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $138.98, for a total transaction of $755,356.30. Following the completion of the sale, the executive now directly owns 51,541 shares of the company’s stock, valued at approximately $7,163,168.18. The disclosure for this sale can be found here. Insiders have sold a total of 10,829 shares of company stock worth $1,504,619 over the last quarter. 1.40% of the stock is currently owned by insiders.

COR has been the topic of a number of research reports. Raymond James lifted their price target on shares of CoreSite Realty from $136.00 to $149.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Zacks Investment Research upgraded shares of CoreSite Realty from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a report on Tuesday. Royal Bank of Canada boosted their target price on shares of CoreSite Realty from $130.00 to $136.00 and gave the stock a “sector perform” rating in a report on Monday, August 16th. They noted that the move was a valuation call. Barclays boosted their target price on shares of CoreSite Realty from $118.00 to $123.00 and gave the stock an “underweight” rating in a report on Wednesday, August 25th. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their target price on shares of CoreSite Realty from $157.00 to $161.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $142.33.

Shares of NYSE:COR opened at $147.99 on Wednesday. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 71.84, a PEG 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. The firm’s 50-day moving average is $142.58 and its 200 day moving average is $129.95. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 80.93.

CoreSite Realty (NYSE:COR) last issued its quarterly earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.76). CoreSite Realty had a net margin of 13.98% and a return on equity of 143.10%. As a group, equities analysts forecast that CoreSite Realty Co. will post 5.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be issued a dividend of $1.27 per share. The ex-dividend date is Wednesday, September 29th. This represents a $5.08 annualized dividend and a yield of 3.43%. CoreSite Realty’s payout ratio is 95.67%.

About CoreSite Realty

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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