Digital Core Reit’s H2 DPU flat at US$0.018, with Frankfurt deal raising both revenue and expenses

[SINGAPORE] Digital Core Real Estate Investment Trust (Reit) declared a distribution per unit (DPU) of US$0.018 for the six months ended Dec 31, 2025, unchanged from the year-ago period.

The data centre-focused Reit owns 11 facilities across the US, Canada, Germany and Japan.

The flat DPU came even as H2 revenue rose 61.6 per cent to US$87.3 million. That increase followed its acquisition of an additional 15.1 per cent stake in a data centre in Frankfurt, Germany, in December 2024.

But with the acquisition, Digital Core Reit’s H2 property expenses for the half-year nearly doubled to US$44.8 million. Net property income thus increased by a smaller margin than revenue, by 35.1 per cent to US$42.4 million.

For the full year, the Reit’s DPU was also unchanged at US$0.036. Revenue was up 72.2 per cent at US$176.2 million.

With FY2025 property expenses more than doubling, net property income stood at US$88.7 million, up 43.5 per cent from the year-ago period.

The results show “the resiliency of our business, the quality of our portfolio and the strength of our sponsor support”, said John Stewart, chief executive of the Reit’s manager, in a statement on Wednesday (Feb 4).

Digital Core Reit had an in-service portfolio occupancy rate of 97 per cent as at Dec 31, 2025; its weighted average lease expiration stood at 4.6 years. The Reit had US$671 million of total debt outstanding – all of which is unsecured – and aggregate leverage of 37.1 per cent.

Units of Digital Core Reit ended Wednesday flat at US$0.53.