- Digital Core REIT (SGX:DCRU) made its debut on the main board of the Singapore Exchange Securities Trading Limited on 6 Dec 2021. It is the exclusive pure-play data centre S-REIT vehicle sponsored by Digital Realty Trust.
- - Read this at SGinvestors.io -
Reconstructed & ready for growth
- Digital Core REIT experienced a 2.4% y-o-y decline in distributable income in 1Q24 compared to the previous year. This decrease was a result of a significant restructuring of its portfolio, prompted by its second largest tenant's bankruptcy filing in 2023. However, the management effectively turned this challenging situation into an opportunity.
- - Read this at SGinvestors.io -
- The only setback was the delay in finding new tenants for their Toronto property, which currently has a disappointing occupancy rate of 66.8%. Nevertheless, we believe that Digital Core REIT has overcome the worst and is now operating in a structurally growing market.
- With a healthy aggregate leverage of 35.1% (as at 31 Mar 2024) and a lower cost of debt of 3.9%, Digital Core REIT is well-positioned to pursue further growth opportunities.
Long-term secular uptrend for data centres from favourable demand & supply dynamics
- Read more at SGinvestors.io.
Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
Donavan Tan OCBC Investment Research | https://www.iocbc.com/ 2024-05-24
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 Dividend Payout Dates & Corporate Actions,
Digital Core REIT News
