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Stock Market & Financial Investment News

News Breaks
June 16, 2014
07:37 EDTQTS, CONE, DLRDigital Realty upgraded to Buy from Hold at Jefferies
Jefferies upgraded Digital Realty to Buy with a $68 price target saying limited speculative development will drive improved returned on invested capital. The firm moved the Data Center REIT space to an Overweight rating. It also has Buy ratings on CyrusOne (CONE) and QTS Realty Trust (QTS).
News For DLR;CONE;QTS From The Last 14 Days
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September 10, 2014
11:06 EDTDLRHigh option volume stocks
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10:00 EDTCONEOn The Fly: Analyst Initiation Summary
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September 9, 2014
19:38 EDTDLRDigital Realty resumed with a Hold at Stifel
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19:35 EDTCONECyrusOne initiated with a Hold at Stifel
Target $28.
19:33 EDTQTSQTS Realty Trust resumed with a Buy at Stifel
Target $36.
18:49 EDTDLRDigital Realty announces $188M Turn-Key Flex joint venture
Digital Realty announced the formation of a $187.6M joint venture between an affiliate of Digital Realty and an affiliate of Griffin Capital Essential Asset REIT, or GCEAR.. Digital Realty contributed to the joint venture, which was formed on September 9, an approximately 132,280 square foot Turn-Key Flex data center in Ashburn, Virginia valued at approximately $185.5M, excluding $2.1M of closing costs, or $20,611 per kW. The property is expected to generate forward 12-month cash net operating income of approximately $13.1M, representing a 7.05% cap rate. The property is 100% leased, with a weighted average remaining lease term of approximately seven years. GCEAR will hold an 80% interest in the joint venture and Digital Realty will retain a 20% interest. Digital Realty will continue to manage the property, and will receive management fees and will also be entitled to participate in certain excess cash flow and capital proceeds for managing the property. The joint venture has arranged a $102.0M five-year bank loan at LIBOR plus 225 basis points, representing a loan-to-value ratio of approximately 55%. The transaction generated net proceeds to Digital Realty of approximately $168.4M, comprised of Digital Realty's share of the initial draw-down on the bank loan in addition to the GCEAR fund's equity contribution, less Digital Realty's share of closing costs. Proceeds from the transaction will initially be used to pay down debt, and will eventually be used to fund ongoing investment activity and other corporate purposes. Digital Realty's FY14 core FFO per share guidance remains unchanged at $4.85-$4.95.

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