Key Developments: CoreSite Realty Corp (COR)
35.48USD
22 May 2013
$-0.26 (-0.73%)
$35.74
$35.67
$36.05
$35.48
58,501
268,323
$38.57
$20.50
Latest Key Developments (Source: Significant Developments)
CoreSite Realty Corp Reaffirms FY 2013 FFO Guidance
CoreSite Realty Corp reaffirmed fiscal 2013 funds from operations (FFO) guidance to a range of $1.72 to $1.82. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO per share of $1.79 for fiscal 2013. Full Article
CoreSite Realty Corp Declares First Quarter 2013 Dividend On Common And Series A Preferred Stock
CoreSite Realty Corp announced that Board of Directors declared a cash dividend of $0.27 per share on common stock and common stock equivalents for the first quarter of 2013. The dividend will be paid on April 15, 2013, to stockholders of record on March 28, 2013. Full Article
CoreSite Realty Corp Issues FY 2013 FFO Guidance In Line With Analysts' Estimates
CoreSite Realty Corp announced that it is introducing fiscal 2013 guidance of FFO per diluted share and unit in the range of $1.72 to $1.82. In addition, the Company's estimate of the net income attributable to common shares is $0.37 to $0.47 per diluted share, with the difference between FFO and net income being real estate depreciation and amortization. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO per share of $1.73 for fiscal 2013. Full Article
CoreSite Realty Corp Announces Closing of Offering of 7.25% Series A Cumulative Redeemable Preferred Stock
CoreSite Realty Corp announced the closing of an underwritten public offering of 4,600,000 shares of 7.25% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) at a price of $25.00 per share for net proceeds of approximately $111 million, after deducting underwriting discounts and commissions and expenses. The 4,600,000 shares of the Company’s Series A Preferred Stock includes the underwriters’ exercise of their over-allotment option on December 7, 2012 to purchase an additional 600,000 shares of the Company’s Series A Preferred Stock.The Company intends to contribute the net proceeds from this offering to its operating partnership, CoreSite, L.P., which will subsequently use the net proceeds received from the Company to temporarily repay borrowings under its revolving credit facility, to repay the full amount of the mortgage loan payable on its 12100 Sunrise Valley property and for general corporate purposes, which could include the acquisition of additional properties or to fund development and redevelopment opportunities. The offering is being made pursuant to an effective shelf registration statement, prospectus and related prospectus supplement filed by the Company with the Securities and Exchange Commission. Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC are the joint book-running managers for the offering. Full Article
CoreSite Realty Corp Announces Pricing of 4,000,000 Shares of 7.25% Series A Cumulative Redeemable Preferred Stock
CoreSite Realty Corp announced that the pricing of an underwritten public offering of 4,000,000 shares of 7.25% Series A Cumulative Redeemable Preferred Stock at a price of $25.00 per share for gross proceeds of $100 million. The offering is expected to close on December 12, 2012, subject to closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of its 7.25% Series A Cumulative Redeemable Preferred Stock to cover over-allotments, if any. The Company intends to apply to list the shares on the New York Stock Exchange. The Company intends to contribute the net proceeds from this offering to its operating partnership, CoreSite, L.P., which will subsequently use the net proceeds received from the Company to temporarily repay borrowings under its revolving credit facility, to repay the full amount of the mortgage loan payable on its 12100 Sunrise Valley property and for general corporate purposes, which could include the acquisition of additional properties or to fund development and redevelopment opportunities. The offering is being made pursuant to an effective shelf registration statement, prospectus and related prospectus supplement filed by the Company with the Securities and Exchange Commission. Full Article
CoreSite Realty Corp Declares Fourth Quarter 2012 Dividend
CoreSite Realty Corp announced that Board of Directors declared a dividend of $0.27 per share on common stock and common stock equivalents for the fourth quarter of 2012. This increase represents a $0.09, or 50%, increase from the previous quarterly dividend rate of $0.18 per share. The increased dividend reflects an annualized dividend rate of $1.08 per share compared to the prior annualized dividend rate of $0.72 per share. The dividend will be paid on January 15, 2013, to stockholders of record on December 31, 2012. Full Article
CoreSite Realty Corp Raises FY 2012 FFO Guidance
CoreSite Realty Corp announced that for fiscal 2012, it is increasing and tightening its guidance of FFO per diluted share and unit to a range of $1.50 to $1.54 from its prior range of $1.42 to $1.52. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO of $1.50 for fiscal 2012. Full Article
CoreSite Realty Corp, RiverMeadow Software and Violin Memory Form Strategic Channel and Product Alliance
CoreSite Realty Corp announced that it has formed a strategic channel and product alliance with RiverMeadow Software and Violin Memory Inc. RiverMeadow`s flagship product, enCloud, is an automated cloud onboarding solution built specifically for carrier and cloud service provider IaaS platforms. Violin Memory is considered the provider of fast and scalable flash memory arrays. By colocating within CoreSite`s network-centric, high-performance data centers with Violin Memory`s scalability and capacity for high I/O rates and RiverMeadow`s enCloud SaaS-based solution, over 275 carriers and cloud service providers within the CoreSite ecosystem can seamlessly access and deliver high-performance cloud onboarding, disaster recovery, and storage services over their IaaS platforms at a competitive price. Full Article
CoreSite Realty Corp Declares Third Quarter 2012 Dividend
CoreSite Realty Corp announced that its Board of Directors declared a dividend of $0.18 per share on common stock and common stock equivalents for the third quarter of 2012. The dividend will be paid on October 15, 2012 to stockholders of record on September 28, 2012. Full Article
CoreSite Realty Corp Raises Low End Of Prior FY 2012 FFO Guidance To A Range In Line With Analysts' Estimates; Declares Second Quarter Dividend
CoreSite Realty Corp updated fiscal 2012 guidance and expects funds from operations (FFO) per diluted share and unit to a range of $1.42 to $1.52 from its prior range of $1.38 to $1.52. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $1.48 for fiscal 2012. The Company also announced that its Board of Directors has declared a dividend of $0.18 per share of common stock and common stock equivalents for the second quarter of 2012. The dividend was paid on July 16, 2012 to shareholders of record on June 29, 2012. Full Article
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