New Risk • Apr 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (26% net profit margin). Announcement • Mar 31
Digital Core REIT to Report Q1, 2026 Results on Apr 22, 2026 Digital Core REIT announced that they will report Q1, 2026 results After-Market on Apr 22, 2026 Reported Earnings • Mar 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.037 (down from US$0.16 in FY 2024). Revenue: US$195.0m (up 64% from FY 2024). Net income: US$47.7m (down 77% from FY 2024). Profit margin: 25% (down from 173% in FY 2024). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates by 42%. Revenue is forecast to stay flat during the next 3 years compared to a 4.6% growth forecast for the Specialized REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 24
Digital Core REIT, Annual General Meeting, Apr 15, 2026 Digital Core REIT, Annual General Meeting, Apr 15, 2026, at 09:30 Singapore Standard Time. Location: level 4, singapore land tower, 50 raffles place, singapore 048623, Singapore Declared Dividend • Feb 06
Final dividend of US$0.018 announced Shareholders will receive a dividend of US$0.018. Ex-date: 11th February 2026 Payment date: 26th March 2026 Dividend yield will be 6.9%, which is higher than the industry average of 4.0%. Reported Earnings • Feb 05
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.037 (down from US$0.16 in FY 2024). Revenue: US$176.2m (up 69% from FY 2024). Net income: US$47.7m (down 77% from FY 2024). Profit margin: 27% (down from 197% in FY 2024). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates by 42%. Revenue is expected to decline by 3.6% p.a. on average during the next 2 years, while revenues in the Specialized REITs industry in Asia are expected to grow by 4.0%. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 04
Digital Core REIT Announces Cash Dividend for the Period from 01 July 2025 to 31 December 2025 , Payable on March 26 , 2026 Digital Core REIT announced that the Transfer Books and Register of Unitholders of Digital Core REIT will be closed on 12 February 2026 for the purpose of determining the entitlement of holders of units in Digital Core REIT to Digital Core REIT's distribution of 1.80 U.S. cents per Unit for the period from 01 July 2025 to 31 December 2025 (the "Distribution"), comprising: a) tax-exempt income distribution of 1.64 U.S. cents per Unit; and b) capital distribution of 0.16 U.S. cents per Unit. Unitholders whose securities accounts with the Central Depository (Pte.) Limited ("CDP") are credited with Units at the Record Date will be entitled to the Distribution to be paid on 26 March 2026. Unitholders are reminded to submit the completed tax forms to Digital Core REIT's Unit Registrar - Boardroom Corporate & Advisory Services Pte. Ltd. - at least seven (7) days before the validation deadline of 27 February 2026. Unitholders who do not submit required U.S. tax forms completely and accurately will be subject to 30% withholding tax on the Distribution on 27 February 2026. Announcement • Jan 05
Digital Core REIT to Report Fiscal Year 2025 Results on Feb 04, 2026 Digital Core REIT announced that they will report fiscal year 2025 results at 5:00 PM, Singapore Standard Time on Feb 04, 2026 Reported Earnings • Oct 23
Third quarter 2025 earnings released Third quarter 2025 results: EPS: US$0.005. Revenue: US$58.3m (up 77% from 3Q 2024). Net income: US$6.58m (up 27% from 3Q 2024). Profit margin: 11% (down from 16% in 3Q 2024). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Specialized REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Digital Core REIT to Report Q3, 2025 Results on Oct 22, 2025 Digital Core REIT announced that they will report Q3, 2025 results After-Market on Oct 22, 2025 Declared Dividend • Jul 25
First half dividend of US$0.018 announced Shareholders will receive a dividend of US$0.018. Ex-date: 30th July 2025 Payment date: 18th September 2025 Dividend yield will be 6.7%, which is higher than the industry average of 4.0%. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: US$0.008 (vs US$0.008 in 2Q 2024) Second quarter 2025 results: EPS: US$0.008 (in line with 2Q 2024). Revenue: US$28.9m (up 42% from 2Q 2024). Net income: US$9.99m (flat on 2Q 2024). Profit margin: 35% (down from 49% in 2Q 2024). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Global Specialized REITs industry. Announcement • Jun 30
Digital Core REIT to Report First Half, 2025 Results on Jul 23, 2025 Digital Core REIT announced that they will report first half, 2025 results on Jul 23, 2025 Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$0.16 (up from US$0.097 loss in FY 2023). Revenue: US$104.2m (up 42% from FY 2023). Net income: US$205.4m (up US$314.0m from FY 2023). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Global Specialized REITs industry. Announcement • Mar 28
Digital Core REIT to Report Q1, 2025 Results on Apr 23, 2025 Digital Core REIT announced that they will report Q1, 2025 results After-Market on Apr 23, 2025 Announcement • Mar 26
Digital Core REIT, Annual General Meeting, Apr 16, 2025 Digital Core REIT, Annual General Meeting, Apr 16, 2025, at 09:00 Singapore Standard Time. Location: ntuc centre, 1 marina boulevard, training room 801, on level 8, one marina boulevard, singapore 018989, Singapore Declared Dividend • Feb 14
Dividend increased to US$0.018 Dividend of US$0.018 is 276% higher than last year. Ex-date: 19th February 2025 Payment date: 28th March 2025 Dividend yield will be 5.5%, which is higher than the industry average of 4.0%. Reported Earnings • Feb 13
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$0.16 (up from US$0.097 loss in FY 2023). Revenue: US$102.3m (up 40% from FY 2023). Net income: US$205.4m (up US$314.0m from FY 2023). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Global Specialized REITs industry. Announcement • Feb 13
Digital Core REIT Announces Cash Dividend for the Period from 01 July 2023 to 31 December 2023, Payable on March 28, 2025 Digital Core REIT announced that the Transfer Books and Register of Unitholders of will be closed on 20 February 2025 at 5:00 p.m. (the "Record Date") for the purpose of determining the entitlement of holders of units in Digital Core REIT ("Units" and holders of Units, "Unitholders") to Digital Core REIT's distribution of 1.80 U.S. cents per Unit for the period from 01 July 2024 to 31 December 2024, comprising: a) tax-exempt income distribution of 0.18 U.S. cents per Unit; and b) capital distribution of 1.62 U.S. cents per Unit. Unitholders whose securities accounts with the Central Depository (Pte.) Limited are credited with Units at the Record Date will be entitled to the Distribution to be paid on Friday, 28 March 2025. Announcement • Feb 12
Digital Core REIT Announces Board and Committee Changes Digital Core REIT announced key leadership changes designed to underscore Digital Realty's commitment to Digital Core REIT's long-term success and accelerate the growth of its platform across the Asia Pacific region. Serene Nah, Managing Director, Head of APAC for Digital Realty and a non-independent director, will succeed David Lucey as Chairman of the Board of Digital Core REIT Management Pte. Ltd., the manager of Digital Core REIT. Ms. Nah will also be appointed as a member of the Nominating & Corporate Governance Committee to build upon the Board's strong foundation and further align with the REIT's strategic growth priorities. These changes will take effect from 12 February 2025. Ms. Nah is based in Singapore and has had a distinguished career spanning over two decades across infrastructure real estate, technology investment and capital markets. Since joining Digital Realty in January 2023, she has led the Sponsor's strategic initiatives in the Asia Pacific region, solidifying its position as a global data centre leader. Mr. Lucey will continue to serve as a non-independent director of the Manager and as Senior Vice President, Investment/Government Affairs for Digital Realty. Mr. Lucey will continue to serve as a non-independent director of the Manager and as Senior Vice President, Investment/Government Affairs for Digital Realty. Board of Directors + Nominating & Corporate Governance Committee Composition The composition of the Board of Directors and the Nominating & Corporate Governance Committee with effect from 12 February 2025 are as detailed below. There are no changes to the composition of the Audit & Risk Committee or the Remuneration Committee. Board of Directors: Ms. Serene Nah Chairman Non-Independent Non-Executive Director, Mr. John Herbert Lead Independent Non Executive Director, Mr. Tsui Kai Chong Independent Non-Executive Director, Mr. Tan Jeh Wuan Independent Non-Executive Director, Mr. David Lucey Non-Independent Non-Executive Director. Nominating & Corporate Governance Committee: Mr. John Herbert Chairman, Mr. Tsui Kai Chong Member, Ms. Serene Nah Member. About Serene Nah Ms. Nah is based in Singapore and has over two decades of experience in pan-Asia infrastructure real estate and technology investment as well as capital markets, joint ventures, and financial management. Ms. Nah currently serves as Managing Director, Head of Asia Pacific for Digital Realty, where she works with its partners and customers to drive growth and broaden offerings to support the emerging needs of the Asia Pacific region. She joined Digital Realty from Kerry Properties, where she served as Executive Director and Chief Financial Officer in charge of finance, corporate development, strategy, and operations. Previously, Ms. Nah held senior leadership roles in the U.S. and across APAC at companies including Silver Lake Partners, where she served as Head of Asia-Portfolio Management, and General Electric, where she most recently served as CFO of GE Capital Greater China. In addition to her corporate responsibilities, Ms. Nah is actively engaged in the industry and currently holds the position of Vice-Chair at the Asia-Pacific Data Centre Association (APDCA). Ms. Nah holds a Bachelor's degree in Business Studies from The Nanyang Technological University Singapore and has an executive MBA from Kellogg-HKUST. Announcement • Jan 13
Digital Core REIT to Report Fiscal Year 2024 Results on Feb 12, 2025 Digital Core REIT announced that they will report fiscal year 2024 results on Feb 12, 2025 Reported Earnings • Oct 27
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: US$25.9m (down 17% from 3Q 2023). Net income: US$5.20m (down 38% from 3Q 2023). Profit margin: 20% (down from 27% in 3Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Global Specialized REITs industry. Announcement • Sep 30
Digital Core REIT to Report Q3, 2024 Results on Oct 23, 2024 Digital Core REIT announced that they will report Q3, 2024 results on Oct 23, 2024 Declared Dividend • Jul 26
Dividend reduced to US$0.013 Dividend of US$0.013 is 32% lower than last year. Ex-date: 31st July 2024 Payment date: 20th September 2024 Dividend yield will be 6.3%, which is higher than the industry average of 4.0%. Buy Or Sell Opportunity • Jul 25
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.7% to US$0.59. The fair value is estimated to be US$0.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Announcement • Jul 01
Digital Core REIT Management Pte. Ltd. Announces Change of Company Secretaries The Board of Directors of Digital Core REIT Management Pte. Ltd., in its capacity as manager of Digital Core REIT, announced the resignation of Ms Low Mei Mei, Maureen and Ms Lai Foon Kuen as Joint Company Secretaries of the Company and in their place, the appointment of Ms Shim Gek Nii as Joint Company Secretary of the Company with immediate effect. Following the aforesaid change, the Company Secretaries of the Company are Mr. Lee Tiong Hock and Ms Shim Gek Nii. Announcement • Jun 28
Digital Core REIT to Report First Half, 2024 Results on Jul 24, 2024 Digital Core REIT announced that they will report first half, 2024 results on Jul 24, 2024 Reported Earnings • Apr 25
First quarter 2024 earnings released First quarter 2024 results: EPS: US$0.008. Revenue: US$24.6m (down 12% from 1Q 2023). Net income: US$8.71m (up 21% from 1Q 2023). Profit margin: 35% (up from 26% in 1Q 2023). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Global Specialized REITs industry are expected to grow by 4.5%. Announcement • Apr 05
Digital Core REIT, Annual General Meeting, Apr 18, 2024 Digital Core REIT, Annual General Meeting, Apr 18, 2024, at 09:00 Singapore Standard Time. Location: Bridge+, 79 Robinson Road, Level 2 Singapore Singapore Agenda: To receive and adopt the Trustee's Report, the Manager's Statement, the Audited Financial Statements of Digital Core REIT for the financial period from 1 January 2023 to 31 December 2023 and the Auditors' Report thereon; to re-appoint KPMG LLP as Auditors of Digital Core REIT and authorize the Manager to fix the Auditors' remuneration; to authorize the Manager to issue Units and to make or grant convertible instruments; and to approve the renewal of the Unit Buy-Back Mandate. Announcement • Mar 29
Digital Core REIT to Report Q1, 2024 Results on Apr 25, 2024 Digital Core REIT announced that they will report Q1, 2024 results After-Market on Apr 25, 2024 New Risk • Feb 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Shareholders have been diluted in the past year (17% increase in shares outstanding). Announcement • Feb 09
Digital Core REIT announced that it expects to receive SGD 134 million in funding Digital Core REIT announced a private placement of 159,523,810 new units at an issue price between SGD 0.8100 and SGD 0.8400 per new unit, representing a discount of about 8.8% and 5%, respectively for the gross proceeds of SGD 134,000,000.4 on February 7, 2024. The new units under the private placement will be made available to eligible institutional, accredited and other investors. The new units to be issued will increase the number of units in issue by up to 166,667,000, which is an increase of up to 14.8% of the total number of units in issue. Declared Dividend • Feb 09
Dividend of US$0.0048 announced Shareholders will receive a dividend of US$0.0048. Ex-date: 15th February 2024 Payment date: 4th April 2024 Dividend yield will be 6.3%, which is higher than the industry average of 4.0%. Reported Earnings • Feb 02
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$0.097 loss per share (down from US$0.001 profit in FY 2022). Revenue: US$102.6m (up 4.5% from FY 2022). Net loss: US$108.6m (down US$109.9m from profit in FY 2022). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) were also behind analyst expectations. Revenue is expected to decline by 4.0% p.a. on average during the next 2 years, while revenues in the Global Specialized REITs industry are expected to grow by 5.0%. Announcement • Feb 01
Digital Core REIT Announces Cash Dividend for the Period from 01 July 2023 to 31 December 2023, Payable on 27 March 2024 Digital Core REIT will be closed on 9 February 2024 at 5:00 p.m. for the purpose of determining the entitlement of holders of units in Digital Core REIT ("Units" and holders of Units,"Unitholders") to Digital Core REIT's distribution of 1.78 U.S. cents per Unit for the period from 01 July 2023 to 31 December 2023 (the "Distribution"), comprising: (a) tax-exempt income distribution of 0.69 U.S. cents per Unit; and (b) capital distribution of 1.09 U.S. cents per Unit. Unitholders whose securities accounts with The Central Depository (Pte.) Limited ("CDP") are credited with Units at the Record Date will be entitled to the Distribution to be paid on 27 March 2024. New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (7.6% average weekly change). Board Change • Nov 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Independent Non-Executive Chairman of the Board of Digital Core REIT Management Pte. Ltd David Lucey is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2023 earnings released: EPS: US$0.007 (vs US$0.024 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.007 (up from US$0.024 loss in 3Q 2022). Revenue: US$31.2m (up 79% from 3Q 2022). Net income: US$8.37m (up US$35.6m from 3Q 2022). Profit margin: 27% (up from net loss in 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Global Specialized REITs industry. Announcement • Sep 29
Digital Core REIT to Report Q3, 2023 Results on Oct 26, 2023 Digital Core REIT announced that they will report Q3, 2023 results at 5:00 PM, Singapore Standard Time on Oct 26, 2023 Announcement • Sep 06
Digital Core Reit Announces Chief Financial Officer Changes, Effective from October 1, 2023 Digital Core REIT Board, taking into consideration the credentials, experience and qualifications of Mr. David Craft (Mr Craft), and at the recommendation of the Nominating and Corporate Governance Committee, approved the appointment of Mr. Craft as Chief Financial Officer. Executive. Mr. Craft will work with the Chief Executive Officer and other members of the management team to formulate strategic plans for Digital Core REIT in accordance with the Manager's stated investment strategy. He will be responsible in applying the appropriate capital management strategy, including tax and treasury matters, as well as finance and accounting matters, overseeing implementation of Digital Core REIT's short and medium term business plans, financing activities and financial condition. Working Experience: Senior Director and Vice President of Acquisitions and Investments at Digital Realty Trust (2018 to 2023) Associate, Vice President and Director of Investment Banking at Bank of America Merrill Lynch (2013 to 2018). Professional Qualifications: Bachelor of Science in Finance and a Bachelor of Music Performance from the University of Colorado, Boulder Master of Business Administration, Finance concentration, from the Kenan-Flagler Business School at the University of North Carolina, Chapel Hill. Appointment date: October 1, 2023. Mr. Craft succeeds Daniel Tith, who is returning to the U.S. to lead Global Finance for Digital Realty. In his new role, Mr. Tith will remain closely involved with Digital Core REIT's capital-raising and investment activities, allowing for career development as well as preservation of institutional knowledge to ensure a seamless transition. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: US$0.002 (vs US$0.024 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.002 (up from US$0.024 loss in 2Q 2022). Revenue: US$20.7m (up 19% from 2Q 2022). Net income: US$1.90m (up US$29.1m from 2Q 2022). Profit margin: 9.2% (up from net loss in 2Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Global Specialized REITs industry. Buying Opportunity • Jul 30
Now 20% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be US$0.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last year. Meanwhile, the company became loss making. Announcement • Jul 29
Digital Core REIT Announces Distribution for the Period from 01 January 2023 to 30 June 2023, Payable on 28 September 2023 Digital Core REIT announced distribution of 1.92 U.S. cents per Unit for the period from 01 January 2023 to 30 June 2023. The Transfer Books and Register of Unitholders of Digital Core REIT will be closed on 4 August 2023 for the purpose of determining the entitlement of holders of units in Digital Core REIT. Tax-exempt income distribution of 0.70 U.S. cents per Unit; and capital distribution of 1.22 U.S. cents per Unit. Unitholders whose securities accounts with The Central Depository (Pte.) Limited are credited with Units at the Record Date will be entitled to the Distribution to be paid on 28 September 2023. Price Target Changed • Jul 28
Price target decreased by 7.1% to US$0.68 Down from US$0.73, the current price target is an average from 6 analysts. New target price is 34% above last closing price of US$0.51. Stock is down 42% over the past year. The company is forecast to post earnings per share of US$0.027 for next year compared to US$0.0012 last year. Announcement • Jul 22
Digital Core Reit Management Pte. Ltd. Announces Joint Company Secretary Changes The Board of Directors of Digital Core REIT Management Pte. Ltd. (company) in its capacity as manager of Digital Core REIT, announced the resignation of Ms Han RuiYun as Joint Company Secretary of the Company and in her place, the appointment of Ms Lai Foon Kuen as Joint Company Secretary of the Company with immediate effect. Following the aforesaid change, the Company Secretaries of the Company are Mr. Lee Tiong Hock, Ms Low Mei Mei, Maureen and Ms Lai Foon Kuen. Reported Earnings • Apr 27
First quarter 2023 earnings released First quarter 2023 results: Revenue: US$26.8m (up 39% from 1Q 2022). Net income: US$7.18m (down 6.5% from 1Q 2022). Profit margin: 27% (down from 40% in 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.7% growth forecast for the Global Specialized REITs industry. Price Target Changed • Apr 04
Price target decreased by 8.9% to US$0.75 Down from US$0.82, the current price target is an average from 6 analysts. New target price is 56% above last closing price of US$0.48. Stock is down 56% over the past year. The company is forecast to post earnings per share of US$0.029 for next year compared to US$0.0012 last year. Announcement • Feb 03
Digital Core REIT Announces Distribution for the Period from July 01, 2022 to December 31, 2022, Payable on March 31, 2023 Digital Core REIT Management Pte. Ltd., as manager of Digital Core REIT, announced that the transfer books and register of unitholders of Digital Core REIT will be closed on February 10, 2023 at 5:00 p.m. (the ‘Record Date’) for the purpose of determining the entitlement of holders of units in the company (‘Units’ and holders of Units, ‘Unitholders’) to Digital Core REIT's distribution of 1.92 U.S. cents per unit for the period from 01 July 2022 to 31 December 2022 (the ‘Distribution’), comprising: (a) tax-exempt income distribution of 1.21 U.S. cents per unit; and (b) capital distribution of 0.71 U.S. cents per unit. Unitholders whose securities accounts with The Central Depository (Pte.) Limited (‘CDP’) are credited with units at the record date will be entitled to the distribution to be paid on March 31, 2023. Buying Opportunity • Jan 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be US$0.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 13% per annum over the same time period. Announcement • Jan 04
Digital Core REIT to Report Fiscal Year 2022 Results on Feb 02, 2023 Digital Core REIT announced that they will report fiscal year 2022 results at 5:00 PM, Singapore Standard Time on Feb 02, 2023 Announcement • Dec 30
Digital Core REIT Announces Change of Joint Company Secretaries The Board of Directors of Digital Core REIT Management Pte. Ltd., in its capacity as manager of Digital Core REIT, announced the resignation of Ms Yvonne Ang Ruey Shya as Joint Company Secretary of the Company and in her place, the appointment of Ms Maureen Low Meimei and Ms Sheena Han RuiYun as Joint Company Secretaries of the Company with immediate effect. Announcement • Dec 02
Digital Core REIT (SGX:DCRU) completed the acquisition of 25% interest in freehold data centre in Frankfurt from Digital Realty Trust, L.P. Digital Core REIT (SGX:DCRU) entered into an agreement to acquire a 25% interest in freehold data centre in Frankfurt from Digital Realty Trust, L.P. for $140 million in September 22, 2022. In related transaction, Digital Core REIT will acquire a 90% interest in an institutional quality freehold data center in Dallas, Texas for $179 million. Digital Core REIT has an the option to acquire up to an 89.9% interest in the Frankfurt facility. Digital Core REIT will fund the trasncation by external bank borrowings without an equity fund raising. In the event the equity fundraising does not occur, Digital Core REIT will pursue a 100% debt-funded transaction, pursuant to which Digital Core REIT will acquire a 25% interest in the Frankfurt facility and will not acquire any interest in the Dallas data centres. Ernst & Young Global Services LLP acted as accountant to Digital Realty Trust, L.P. Latham & Watkins, Bird & Bird and Shooklin & Bok advised in this transaction. Constantijn Voogt and Wiebe Dijkstra of De Brauw Blackstone Westbroek N.V. advised in this transaction. Deloitte & Touche Corporate Finance Pte Ltd. acted as fairness opinion provider to Audit and Risk Committee of Manager of Digital Core REIT (SGX:DCRU).
Digital Core REIT (SGX:DCRU) completed the acquisition of 25% interest in freehold data centre in Frankfurt from Digital Realty Trust, L.P. on December 1, 2022. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Independent Non-Executive Director of Digital Core REIT Management Pte. Ltd David Lucey is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Oct 13
Digital Core REIT to Report Q3, 2022 Results on Oct 26, 2022 Digital Core REIT announced that they will report Q3, 2022 results at 5:00 PM, Singapore Standard Time on Oct 26, 2022 Announcement • Sep 24
Digital Core REIT (SGX:DCRU) entered into an agreement to acquire a 25% interest in freehold data centre in Frankfurt from Digital Realty Trust, L.P. for $140 million. Digital Core REIT (SGX:DCRU) entered into an agreement to acquire a 25% interest in freehold data centre in Frankfurt from Digital Realty Trust, L.P. for $140 million in September 22, 2022. In related transaction, Digital Core REIT will acquire a 90% interest in an institutional quality freehold data center in Dallas, Texas for $179 million. Digital Core REIT has an the option to acquire up to an 89.9% interest in the Frankfurt facility. Digital Core REIT will fund the trasncation by external bank borrowings without an equity fund raising. In the event the equity fundraising does not occur, Digital Core REIT will pursue a 100% debt-funded transaction, pursuant to which Digital Core REIT will acquire a 25% interest in the Frankfurt facility and will not acquire any interest in the Dallas data centres. Announcement • Jul 29
Digital Core REIT Announces Cash Dividend for the Period Ended June 30, 2022, Payable on September 28, 2022 NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of Digital Core REIT will be closed on 05 August 2022 at 5.00 p.m. for the purpose of determining the entitlement of holders of units in Digital Core REIT ("Units" and holders of Units, "Unitholders") to Digital Core REIT's distribution of 2.37 US cents per Unit for the period from 6 December 2021 (Listing Date) to 30 June 2022 (the "Distribution") comprising: tax-exempt income distribution of 1.52 US cents per Unit; and capital distribution of 0.85 US cents per Unit. Unitholders whose securities accounts with The Central Depository (Pte) Limited ("CDP") are credited with Units at the Books Closure Date will be entitled to the Distribution to be paid on 28 September 2022. Announcement • Jul 15
Digital Core REIT to Report Q2, 2022 Results on Jul 28, 2022 Digital Core REIT announced that they will report Q2, 2022 results After-Market on Jul 28, 2022 Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Independent Non-Executive Director of Digital Core REIT Management Pte. Ltd David Lucey is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Buying Opportunity • Feb 03
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$1.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Buying Opportunity • Jan 18
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$1.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. 
