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

Net property income fell 9.5% on year to US$15.8 million for the quarter

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Paige Lim
Raphael Lim

Paige Lim &

Raphael Lim

Published Wed, Apr 24, 2024 · 06:30 PM — Updated Wed, Apr 24, 2024 · 07:33 PM
    • Digital Core Reit's data centre in Northern Virginia. It has a portfolio of data centres across the United States, Canada, Germany and Japan.
    • Digital Core Reit's data centre in Northern Virginia. It has a portfolio of data centres across the United States, Canada, Germany and Japan. PHOTO: DIGITAL CORE REIT

    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.

    Digital Core ReitFinancial results

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