The REIT secured positive rental reversion of 2% to 3% for US$30 million in renewal leases with hyperscalers across North America. On a portfolio-wide basis, DCREIT achieved positive rental reversion of 10.5% in the period, and itt has also doubled its portfolio weighted average lease expiry (WALE) from 2.8 years to 5.0 years.
UOB Kay Hian (UOBKH) analyst Jonathan Koh is keeping his “buy” call on Digital Core REIT (DCREIT) at a raised target price of 95 cents from 88 cents previously, following its 9MFY2024 ended Sept results.
“DCREIT reported distributable income of US$12.0 million ($15.9 million) for 3QFY2024, which is in-line with our expectation,” writes Koh in his Oct 28 report.
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