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CoreSite's LA Data Center Campus Picked as Access Point
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CoreSite Realty Corporation’s (COR - Free Report) Los Angeles Data Center Campus is much in demand. It has been recently selected by the SEA-US Trans-Pacific Cable System for its North American access point. The SEA-US cable system caters to the traffic demands for broadband as well as mobile content on the trans-Pacific route.
Specifically, CoreSite would host SEA-US’s Submarine Line Terminating Equipment (SLTE) and connect the West Coast of the U.S., directly with Indonesia and the Philippines. This would include Manado in Indonesia, Davao in Southern Philippines; Piti in the territory of Guam; and Honolulu (on the island of Oahu), Hawaii.
Around 15,000 kilometers in length, this system would dodge the earthquake prone areas in East Asia. The SEA-US system is expected to start operating during second-quarter 2017.
Notably, CoreSite’s data center platform has gained significance in the Trans-Pacific route to the main Indonesian and Asian markets. In fact, the SEA-US submarine cable system would be the sixth sub-sea cable offering direct access from its Los Angeles campus. This campus is one of the most densely interconnected data center campuses in the world, rendering it a strategic fit as an access point for the SEA-US Trans-Pacific Cable System.
The Los Angeles campus, with two data center facilities, boasts over 500 existing customers, 240 of which are networks. By means of SEA-US, the customers of CoreSite would be able to capitalize on the high-performance route that links businesses to Southeast Asia.
With growth in cloud computing, Internet of Things and big data, and an increasing number of companies opting for third-party IT infrastructure; data center REITs have been experiencing a boom market. They have pulled in capital and also scored well on the return book, producing total returns of 18.41% in the first 11 months of 2016.
CoreSite delivers secure, reliable, high-performance, enterprise-class data centers and interconnection solutions across eight strategic North American markets. The company is well poised to capitalize on this trend.
CoreSite currently has a Zacks Rank #3 (Hold). Over the past one year, shares of CoreSite surged nearly 46.0%, against the 11.2% increase of the REIT and Equity Trust – Other industry.
Some better-ranked stocks in the REIT industry include The GEO Group, Inc. (GEO - Free Report) , Mack-Cali Realty Corp. and Urban Edge Properties (UE - Free Report) . While The GEO Group sports a Zacks Rank #1 (Strong Buy), Mack-Cali and Urban Edge carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The GEO Group’ 2016 estimates inched up 1% to $2.94 per share, over the past 60 days.
Mack-Cali’s 2016 FFO per share estimates climbed 1.9%, over the past 60 days, to $2.20.
For Urban Edge Properties, the projected growth rate for FFO per share is 37.6% for 2016 and 6.3% for 2017.
Note: Funds from operations (“FFO”) a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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CoreSite's LA Data Center Campus Picked as Access Point
CoreSite Realty Corporation’s (COR - Free Report) Los Angeles Data Center Campus is much in demand. It has been recently selected by the SEA-US Trans-Pacific Cable System for its North American access point. The SEA-US cable system caters to the traffic demands for broadband as well as mobile content on the trans-Pacific route.
Specifically, CoreSite would host SEA-US’s Submarine Line Terminating Equipment (SLTE) and connect the West Coast of the U.S., directly with Indonesia and the Philippines. This would include Manado in Indonesia, Davao in Southern Philippines; Piti in the territory of Guam; and Honolulu (on the island of Oahu), Hawaii.
Around 15,000 kilometers in length, this system would dodge the earthquake prone areas in East Asia. The SEA-US system is expected to start operating during second-quarter 2017.
Notably, CoreSite’s data center platform has gained significance in the Trans-Pacific route to the main Indonesian and Asian markets. In fact, the SEA-US submarine cable system would be the sixth sub-sea cable offering direct access from its Los Angeles campus. This campus is one of the most densely interconnected data center campuses in the world, rendering it a strategic fit as an access point for the SEA-US Trans-Pacific Cable System.
The Los Angeles campus, with two data center facilities, boasts over 500 existing customers, 240 of which are networks. By means of SEA-US, the customers of CoreSite would be able to capitalize on the high-performance route that links businesses to Southeast Asia.
With growth in cloud computing, Internet of Things and big data, and an increasing number of companies opting for third-party IT infrastructure; data center REITs have been experiencing a boom market. They have pulled in capital and also scored well on the return book, producing total returns of 18.41% in the first 11 months of 2016.
CoreSite delivers secure, reliable, high-performance, enterprise-class data centers and interconnection solutions across eight strategic North American markets. The company is well poised to capitalize on this trend.
CoreSite currently has a Zacks Rank #3 (Hold). Over the past one year, shares of CoreSite surged nearly 46.0%, against the 11.2% increase of the REIT and Equity Trust – Other industry.
Some better-ranked stocks in the REIT industry include The GEO Group, Inc. (GEO - Free Report) , Mack-Cali Realty Corp. and Urban Edge Properties (UE - Free Report) . While The GEO Group sports a Zacks Rank #1 (Strong Buy), Mack-Cali and Urban Edge carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The GEO Group’ 2016 estimates inched up 1% to $2.94 per share, over the past 60 days.
Mack-Cali’s 2016 FFO per share estimates climbed 1.9%, over the past 60 days, to $2.20.
For Urban Edge Properties, the projected growth rate for FFO per share is 37.6% for 2016 and 6.3% for 2017.
Note: Funds from operations (“FFO”) a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>