Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million

DIGITAL Core real estate investment trust (Reit) on Wednesday (Apr 24) posted distributable income of US$10.6 million for its first quarter ended Mar 31, 2024, down 2.4 per cent from US$10.9 million a year ago.

Gross revenue was down 8.2 per cent to US$24.6 million for the quarter, from US$26.8 million a year ago, the manager said in a quarterly business update.

Net property income fell 9.5 per cent on year to US$15.8 million for the quarter, from US$17.5 million. This was even as property expenses dropped 5.7 per cent to US$8.8 million, from US$9.3 million a year ago.