Digital Core REIT - UOB Kay Hian 2024-07-26: Making Progress To Backfill Frankfurt & Los Angeles Data Centres

• Digital Core REIT has repositioned by acquiring an additional 24.9% stake in its Frankfurt data centre and 10% stake in its Osaka data centre. It has backfilled vacant space at its Frankfurt data centre and occupancy has improved 6.3ppt q-o-q to 98.5% after it signed several new leases.

1H24 results were in line with our expectations.

• - Read this at SGinvestors.io -

Backfilled vacant spaces at Frankfurt data centre.

• Portfolio occupancy improved 1.2ppt q-o-q to 96.6% as of Jun 24. Occupancy for its Frankfurt data centre improved 6.3ppt q-o-q to 98.5% after signing several new leases with positive rental reversion at 2%.
• - Read this at SGinvestors.io -

Share buyback was DPU-accretive.

• Digital Core REIT repurchased 14.6m units at an average price of US$0.57 in 1H24 (16% discount to NAV) (1Q24: 7.9m units, 2Q24: 6.7m units). The buyback generated DPU accretion of 1.0%. The units were held as treasury units and subsequently cancelled.

Maintaining conservative level of gearing.

• 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:
2026-01-06 Digital Core REIT - Value Creation From 35% Uplift In Annualised NPI.

Previous report by UOB:
2025-07-24 Digital Core REIT 1H25 - Maintaining DPU Despite Refurbishment At Linton Hall Road.

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