Digital Core REIT - DBS Research 2022-07-29: Is There Appetite For More?

Digital Core REIT - Is There Appetite For More?


Digital Core REIT's 1H22 earnings highlights

Operations stable and 1H22 DPU of US$0.0206 in line with our expectations

  • Some savings in property expenses that led to Digital Core REIT (SGX:DCRU)'s 1H22 NPI of US$35.4m, 5.9% above IPO forecasts. Profit attributable to non-controlling interests also lower than forecasts by ~US$0.3m.
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Capital structure is stable

  • Digital Core REIT's gearing improved ~30bps q-o-q to 25.7%.
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  • Debt headroom of ~US$194m (35% gearing), or ~US$324m (40% gearing) still supportive of our assumptions for a US$250m fully-debt funded acquisition.

Cash flow support agreement with Sponsor executed

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Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @

Dale LAI DBS Group Research | Derek TAN DBS Research | 2022-07-29

Read also DBS's most recent report:
2022-11-21 Digital Core REIT - To Buyback Or Not To Buyback?.

Previous report by DBS:
2022-10-27 Digital Core REIT - Acquisition Of Frankfurt Data Centre On The Horizon.

Price targets by other brokers at Digital Core REIT Target Prices.
Listing of research reports at Digital Core REIT Analyst Reports.

Relevant links:
Digital Core REIT Share Price History,
Digital Core REIT Announcements,
Digital Core REIT Dividends & Corporate Actions,
Digital Core REIT News Articles

SGX Stock / REIT Search


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