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

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

Read also UOB's most recent report:
2025-02-14 Digital Core REIT - Good Works That Withstood The Test Of Fire.

Previous report by UOB:
2025-01-08 Digital Core REIT - Successful Backfilling At Toronto & Los Angeles Not Fully Appreciated.

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 Dividend Payout Dates & Corporate Actions,
Digital Core REIT News