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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (44862)11/3/2011 9:47:55 AM
From: E_K_S1 Recommendation  Read Replies (1) of 78666
 
CoreSite Realty Corporation (COR)

Hi Grommit -

A pretty good report. They delivered on their FFO growth (over 16%) and that was/is the thesis for my Buy. The company is building value as they grow their data center base. I plan to eventually peel off my higher shares purchased 6/2011 at current prices. My winning Buy was following you in at $13.00/share when the market was crashing at the end of September.

If the stock can string together a few strong quarters like reported today, this one could be close to a double in 18 months. If they also raise their dividend ( just over 3% yield) from time to time it will help support higher prices too.

EKS

CoreSite Reports Third Quarter 2011 Results
finance.yahoo.com
From the article:"...CoreSite Realty Corporation (NYSE:COR - News), a national provider of powerful, network-rich data centers, today announced financial results for the third quarter 2011.

Highlights:

* Reported FFO of $0.35 per diluted share and unit, a 16.7% increase over the prior quarter
* Reported revenue of $44.4 million, representing an increase of $1.9 million, or 4.4%, over the prior quarter
* Executed new and expansion data center leases representing $5.2 million of annualized GAAP rent with a weighted-average GAAP rental rate of $183 per net rentable square foot
* Achieved an 88.4% retention ratio with 13.9% rent growth on signed renewals on a cash basis and 21.5% on a GAAP basis
* Increased 2011 FFO guidance to a range of $1.21 to $1.23 per diluted share..."

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