Digital Core REIT - UOB Kay Hian 2023-09-07: Overcoming Resistance As Cyxtera Is Rehabilitated

Digital Core REIT - Overcoming Resistance As Cyxtera Is Rehabilitated

Published:
Digital Core REIT (SGX:DCRU) | SGinvestors.ioDigital Core REIT (SGX:DCRU)
  • Digital Core REIT’s second-largest tenant Cyxtera has resumed payment of rents since July and is on track to emerge from the court-supervised chapter 11 bankruptcy restructuring by fall of this year (4Q23). Cyxtera reported growth in EBITDA of 10.7% y-o-y in 2Q23.
  • - Read this at SGinvestors.io -
  • Digital Core REIT provides a distribution yield of 6.5% for 2023. Maintain BUY. Target price: US$0.73.

Cyxtera has resumed payment of rents since July.

  • Digital Core REIT (SGX:DCRU)’s second-largest customer Cyxtera, a global colocation and interconnection provider accounting for 22% of total annualised rent, filed for chapter 11 bankruptcy protection on 4 Jun 23. Cyxtera was current on rents till May 23. It was in arrears in June but resumed payment of rents in July.
  • - Read this at SGinvestors.io -

Cyxtera filed plan ofreorganisation.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-09-07



Read also UOB's most recent report:
2024-06-27 Digital Core REIT - Expansion In Germany & Japan Increases Geographical Diversification.

Previous report by UOB:
2024-02-21 Digital Core REIT - Scaling Up Presence Overseas While Lowering Leverage.

Price targets by 2 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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