On 5/15/19 CoreSite Realty Corporation declared a
$1.22/share quarterly dividend,
18.4% increase (year over year) from prior (or Q2-18) dividend of $1.03. The Q1-19 dividend was $1.10 COR has a current trend of increasing their dividend twice per year.
On 5/16/19 Brad Thomas published "10 REITs With The Fastest-Growing Payouts" - which contained the following data:
Based on the last twelve month's data - COR should be updated and moved from its #7 rank with a 11.32% change to #2 at a 18.4% change.
My data shows EQIX with LTM dividend growth of 7.89% - which should be put in at #10 on the list.
CCI, QTS and DLR are all near misses to the top ten list - they all had dividend growth slightly over 7%..
Data Center + Cell Tower Update for 05-23-19
Yields
are calculated on the Q2-19 dividend. The percent change numbers are
since the first of the year - with the exception of the change in the
dividend. The LTM or Last Twelve Month dividend change is since Q2-18.
The last 3 years number is the total dividend change since Q2-16 divided
by three. Switch (SWCH) owns data centers, is not a REIT, had its IPO
in Oct 2017 and paid a div of 0.015 in Q1, Q2 & Q3-18 plus a partial
div in Q4-17.
InterXion (INXN and trades on Nasdaq) owns European data centers, is not
a REIT and does not pay a div. SBA Communications (SBAC) is a Tower
REIT without a current div. QTS raised div paid in Q2 to $0.41. COR
raised div paid in Q3 to $1.03.
Company | Comp. | Share Price | 19 FFO Est | Q2-19 | Div/ | Div/ | Percent Change | LTM | Last 3yr |
Name | Ticker | 1-01 | 05-23 | 1-01 | 05-23 | Yield | FFO19 | FFO20 | Price | Pr+Div | FFO | Target | DivGr
| AnDivGr |
CyrusOne | (CONE) | 52.88 | 62.61 | 3.55 | 3.34 | 2.94% | 55.09 | 49.73 | 18.40 | 20.14 | -5.92 | -2.54 | 0.00% |
7.02% |
CoreSite Realty | (COR) | 87.23 | 119.39 | 5.30 | 5.23 | 4.09% | 93.31 | 84.14 | 36.87 | 39.67 | -1.32 | 3.84 | 18.45% |
43.40% |
Digital Realty Trust | (DLR) | 106.55 | 119.31 | 6.93 | 6.68 | 3.62% | 64.67 | 61.02 | 11.98 | 12.99 | -3.61 | 0.24 | 6.93% |
7.58% |
Equinix Inc. | (EQIX) | 352.56 | 496.26 | 19.61 | 17.08 | 1.98% | 57.61 | 49.27 | 40.76 | 41.46 | -12.90 | 5.69 | 7.89% |
13.52% |
Iron Mountain | (IRM) | 32.41 | 31.73 | 2.34 | 2.22 | 7.70% | 110.09 | 101.83 | -2.10 | 1.67 | -5.13 | -2.95 | 4.09% |
8.66% |
QTS Realty | (QTS) | 37.05 | 45.84 | 2.33 | 2.65 | 3.84% | 66.42 | 61.97 | 23.72 | 26.10 | 13.73 | 4.95 | 7.32% |
7.41% |
Data Center Average |
|
|
|
| 4.03% | 74.53 |
| 21.60 | 23.67 | -2.52 | 1.54 | 7.45% |
Cell Towers |
|
American Tower | (AMT) | 158.19 | 202.92 | 7.71 | 7.03 | 1.77% | 51.21 | 47.18 | 28.28 | 29.41 | -8.82 | 13.91 | 20.00% |
25.49% |
Crown Castle | (CCI) | 108.63 | 127.69 | 5.60 | 5.61 | 3.52% | 80.21 | 76.79 | 17.55 | 18.58 | 0.18 | 8.39 | 7.14% |
9.04% |
Cell Tower Average |
|
|
|
|
|
|
| 22.91 | 24.00 | -4.32 |
|
|
|
Sector Average |
|
|
|
| 3.68% | 72.33 |
| 21.93 | 23.75 | -2.97 | 3.94 | 8.98 |
The cap weighted Dow Jones REIT ETF RWR has a price change of 16.19% year to date - with dividends its total return is 16.82%. |
The cap weighted Vanguard ETF VNQ has a price change of 17.73% year to date - with dividends its total return is 18.55%. |
The Cohen & Steers 'Realty
Majors' ETF ICF has a price change of 10.53% year to date - with
dividends its total return is 11.24%. |
Data Center + Cell Tower Price/FFO Ratios
05-23
The FFO projections are from the Seeking Alpha web site updated on 5/24/19
| FFO / Share | % FFO Growth | Price/FFO | 19 FFO Range |
Co. | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 16-17 | 17-18 | 18-19 | 19-20 | 2017 | 2018 | 2019 | 2020 | High | Low | Range |
CONE | 217 | 265 | 303 | 331 | 334 | 370 |
14.34% |
9.24% |
0.91% |
10.78% |
20.66 |
18.92 | 18.75 | 16.92 | 343 | 318 | 7.49% |
COR | 286 | 371 | 442 | 506 | 523 | 580 |
19.14% |
14.48% |
3.36% |
10.90% |
27.01 |
23.59 | 22.83 | 20.58 | 530 | 504 | 4.97% |
DLR | 526 | 572 | 612 | 660 | 668 | 708 |
6.99% |
7.84% |
1.21% |
5.99% |
19.50 |
18.08 | 17.86 | 16.85 | 680 | 661 | 2.84% |
EQIX | 1063 | 1024 | 1278 | 1564 | 1708 | 1997 |
24.80% |
22.38% |
9.21% |
16.92% |
38.83 |
31.73 | 29.06 | 24.85 | 1767 | 1648 | 6.97% |
IRM | 210 | 198 | 212 | 216 | 222 | 240 |
7.07% |
1.89% |
2.78% |
8.11% |
14.97 |
14.69 | 14.29 | 13.22 | 246 | 193
| 23.87% |
QTS | 229 | 261 | 276 | 262 | 265 | 284 |
5.75% |
-5.07% |
1.15% |
7.17% |
16.61 |
17.50 | 17.30 | 16.14 | 272 | 262 | 3.77% |
AMT | 410 | 510 | 624 | 725 | 703 | 763 |
22.35% |
16.19% |
-3.03% |
8.53% |
32.52 |
27.99 | 28.86 | 26.60 | 772 | 722 | 7.11% |
CCI | 406 | 459 | 435 | 495 | 561 | 586 |
-5.23% |
13.79% |
13.33% |
4.46% |
29.35 |
25.80 | 22.76 | 21.79 | 585 | 554 | 5.53% |
Sector Average |
|
|
|
| 11.90% | 10.09% | 3.61% |
| 24.93 | 19.81 | 21.46 | 19.62 |
|