Report
Matthew Dolgin
EUR 100.00 For Business Accounts Only

CoreSite Meets Our 1Q Expectations While Positioning Itself for Stronger 2020; Maintaining $105 FVE

CoreSite has repeatedly referred to 2019 as a transition year, when constrained capacity will limit its growth potential as it invests heavily in new development to better meet demand in 2020. The firm's first-quarter results reflected the slowing but were in line with our revenue, EBITDA, and funds from operations estimates, despite falling slightly below consensus. We expect improvement throughout the year, as new capacity comes on line, and better results in 2020. Ironically, one of the quali...
Underlying
CORESITE REALTY CORP

The company is a self-administered, and self-managed real estate investment trust (REIT) and the company conducts certain activities through its taxable REIT subsidiaries. Through its controlling interest in CoreSite, L.P., the company is engaged in the business of ownership, acquisition, construction and operation of data centers in some data center markets in the United States, including the San Francisco Bay area, Los Angeles, the Northern Virginia area (including Washington D.C.), the New York area, Boston, Chicago, Denver and Miami. The company delivers data center and interconnection solutions to a customer ecosystem across eight key North American communication markets.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Matthew Dolgin

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