What happened?

Some investors asked me about Digital Core REIT during our recent webinar on Singapore REITs.  Digital Core REIT has been one of the best-performing REITs in the past year, with its share price rebounding from a low of US$0.37 to reach US$0.61 as of 30th April.  This is in contrast to another pure-play data centre REIT - Keppel DC REIT, which recently fell to reach a 1-year low after dividends were cut further.  Many investors were curious to find out how Digital Core REIT is performing after the data centre REIT reported that its second-largest tenant, Cyxtera Technologies, filed for bankruptcy. Let us find out by looking at its recently announced its 2024 first quarter (1Q 2024) business update.  Source: Beansprout

What you need to know about Digital Core REIT’s business update

#1 – Decline in net property income 

Investors should note that Digital Core REIT only...