- Digital Core REIT (DCREIT, SGX:DCRU)'s 1Q24 revenues increased by ~7.5%, and NPI recorded an impressive increase of 31.1% q-o-q. This notable rise in NPI was primarily attributed to the full quarter's contribution from the initial 10% stake acquired in the Osaka DC (which was completed in November 2023) as well as one-off adjustments recognised in the previous quarter.
1Q24 distributable income increased 6.5% q-o-q to US$10.6m.
- - Read this at SGinvestors.io -
Operating metrics remain stable.
- - Read this at SGinvestors.io -
- Recently, Digital Core REIT renewed two major leases at the Frankfurt DC for an average term of approximately five years, achieving an average positive rental reversion of +2.0%.
- Looking ahead, the bulk of the 26% of lease expiries remaining in FY24 will be attributed to the lease expiries at the two LA properties. Despite this, Digital Core REIT remains confident in maintaining at least a 50% occupancy rate at the two LA properties, even when the master lease with Brookfield expires in September 2024.
Healthy balance sheet with debt headroom to embark on future initiatives.
- 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/ 2024-04-25
Read also DBS's most recent report:
2024-07-25 Digital Core REIT - Core Earnings Back On Track.
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
