Thank you for CoresiteIITravis,
I can’t thank you enough for your recommendation of Coresite many years ago. I have a well-over 600% gain from it!!
Unfortunately, I have to take the gain and pay the taxes because American Tower (AMT) just purchased Coresite for $170 per share cash. I know, there are worse problems to have.
I’d like to know if you have any thoughts about AMT. Coresite is now a small fraction of their business but I wonder if the “edge computing” capability that Coresite’s business may provide will give them an outsized boost.
Just signed up again for you Premium Content, thanks again!
JT
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I think it’s a good deal for American Tower (AMT), and I bought more AMT on the news (I had sold Coresite earlier). It’s back a little above my buy price, and its not likely to have the same kind of growth that COR did (since COR was driven by very high dividend growth, and AMT is a steadier ~15% dividend growth company), but I think they’re well situated and I like that they’re getting more into data centers, particularly with CoreSite’s premium locations and interconnections.