Digital Core REIT - DBS Research 2022-10-27: Acquisition Of Frankfurt Data Centre On The Horizon

Digital Core REIT - Acquisition Of Frankfurt Data Centre On The Horizon


Distributable income improved 0.9% q-o-q.

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  • Despite the higher financing costs, Digital Core REIT's distributable income improved 0.9% q-o-q. This is likely due to some savings in operating and trust expenses. We understand that it was also from the straight-lining of earnings that contributed ~US$1.5m to US$2.0m in 3Q22.

Portfolio remains 100% occupied

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  • An agreement has been reached with Sungard (at 371 Gough Road) who is currently undergoing bakruptcy proccedings.
    • Tenant will vacate premises at the end of this year; tenant still current with rent payments to date.
    • Support agreement in place from Sponsor to guarantee cashflows through December 2023.
    • Digital Core REIT has commenced marketing of the vacated space and are seeing some enquiries.
  • Vacancy rates across all markets continue to compress.

3Q23 borrowing costs increased to 3.1%

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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 | 2022-10-27

Read also DBS's most recent report:
2024-04-25 Digital Core REIT - Back On Track To Deliver Stable Earnings.

Previous report by DBS:
2024-02-02 Digital Core REIT - Tenant Bankruptcy A Thing Of The Past.

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


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