0200 GMT - Digital Core REIT's positive developments in December have been overlooked by investors, UOB Kay Hian's Jonathan Koh says in a research report. The brokerage raises the unit's target price to $0.99 from $0.95 with an unchanged buy rating. First, the REIT completed acquisition of extra 15.1% interest in a Frankfurt data center, which is distribution-per-unit accretive by 3.1%, the analyst says. Second, the REIT signed a three-year lease with an artificial-intelligence computing developer, starting in 1Q 2025, which restores its Toronto data center's capacity to 100%. The REIT offers 2025 distribution yield of 6.8%, the analyst adds. Units are 0.85% higher at $0.59. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 21:00 ET (02:00 GMT)
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