- Digital Core REIT (SGX:DCRU)'s provided 3Q22 business and operational updates. See Digital Core REIT's announcement dated 28 Oct 2022.
Distributable income improved 0.9% q-o-q.
- - Read this at SGinvestors.io -
- 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
- - Read this at SGinvestors.io -
- 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%
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-10-27
Read also DBS's most recent report:
2024-02-02 Digital Core REIT - Tenant Bankruptcy A Thing Of The Past.
Previous report by DBS:
2023-11-03 Digital Core REIT - Resolution To A Long-Standing Overhang.
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
