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CoreSite Announces Tax Treatment of 2020 Distributions

CoreSite Realty Corporation (NYSE:COR) (the “Company”), a premier provider of secure, reliable, high-performance data center, cloud and interconnection solutions in major U.S. metropolitan areas, today announced the income tax allocation for federal income tax purposes of its 2020 distributions on its common stock. As shown in the table below, the common distributions allocable to tax year 2020 are composed of 64.2667% taxable ordinary dividends and 35.7333% non-dividend distributions.

CoreSite Common Stock (NYSE:COR; CUSIP: 21870Q105)

Record
Date

Payable
Date

Distribution
Per Share

Taxable
Ordinary
Dividends*

Long-term
Capital Gains

Long-term
Unrecaptured
Section
1250 Gain

Qualified
Dividends

Return of
Capital

Section 199A Dividends*

12/31/19

1/15/20

$1.220000

$0.784054

$0.00

$0.00

$0.00

$0.435946

$0.784054

3/31/20

4/15/20

$1.220000

$0.784054

$0.00

$0.00

$0.00

$0.435946

$0.784054

6/30/20

7/15/20

$1.220000

$0.784054

$0.00

$0.00

$0.00

$0.435946

$0.784054

9/30/20

10/15/20

$1.220000

$0.784054

$0.00

$0.00

$0.00

$0.435946

$0.784054

Total

$4.880000

$3.136216

$0.00

$0.00

$0.00

$1.743784

$3.136216

* The 2020 Taxable Ordinary Dividends are treated as “qualified REIT dividends” for purposes of Internal Revenue Code Section 199A.

CoreSite Realty Corporation’s tax return for the year ended December 31, 2020, has not been filed. As a result, the income tax allocation for the 2020 distributions shown above has been calculated using the best available information as of the date of this release.

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders on how distributions should be reported on their tax returns. Also note that state and local taxation of real estate investment trust distributions varies and may not be the same as the taxation under the federal rules. CoreSite encourages shareholders to consult with their own tax advisors as to their specific federal, state, and local income tax treatment of CoreSite distributions.

About CoreSite

CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 460+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the level of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; the effects on our business operations, demand for our services and general economic conditions resulting from the spread of the Novel Coronavirus (“COVID-19”) in our markets, as well as orders, directives and legislative action by local, state and federal governments in response to such spread of COVID-19; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.

Contacts:

Kate Ruppe
Investor Relations
303-222-7369
InvestorRelations@CoreSite.com

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