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

Digital Core REIT - Overcoming Resistance As Cyxtera Is Rehabilitated

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.
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  • 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.
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Cyxtera filed plan ofreorganisation.

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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 @

Jonathan KOH CFA UOB Kay Hian Research | 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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