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.
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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.

• 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:
2025-07-24 Digital Core REIT 1H25 - Maintaining DPU Despite Refurbishment At Linton Hall Road.

Previous report by UOB:
2025-02-14 Digital Core REIT - Good Works That Withstood The Test Of Fire.

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