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NTT DC REIT USD
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NTT DC REIT
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Alignment
Elite |
01-Jan-2026 09:28
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A positive boost for 2026. | ||||
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Joelton
Supreme |
24-Dec-2025 10:02
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NTT DC REIT added to S-REIT Benchmark Index
The number of constituents in the Singapore REIT (S-REIT) Benchmark Index has gone up to 28 with newcomer NTT DC REIT joining the index.
The benchmark index is relevant to the determination of the performance fee that may be paid to the manager under the trust deed constituting the respective REITs. For instance, some managers are only paid a fee when the REIT&rsquo s accumulated return exceeds the accumulated return of the benchmark index. The index, which is compiled and calculated independently by FTSE, was last updated on May 15.
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Alignment
Elite |
22-Dec-2025 07:34
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Even if the hyperscalers will never make money on ther AI spend, datacentres with long term contracted revenue from top tier clients are safe. The markets are in the early stages of processing winners and losers from this massive AI spend. There is still some hesitancy though about Japanese managed vehicles given the mixed track record, but this REIT looks ok. | ||||
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Joelton
Supreme |
19-Dec-2025 09:16
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Apac real assets show strength in 2025 NTT DC Reit anchors conviction of investors in data centres: report
This comes despite ongoing geopolitical and trade uncertainty weighing on business sentiment, says Aprea
[SINGAPORE] Real assets were ranked as one of global markets&rsquo strongest performers in 2025, where Asia-Pacific (Apac) players shone in particular, based on an Apac Real Assets Association&rsquo s (Aprea) TrendWatch report.
This regional performance came amid an environment hampered by shifting monetary policy, inflation and energy-transition pressures, as well as geopolitical risk, noted the Thursday (Dec 18) report.
The turning point of the asset class and its rise began in 2024, said Aprea, with a shift &ldquo firmly cemented&rdquo this year.
Momentum had already been visible for several years in some sectors, such as hospitality, multi-family and logistics, noted Naoki Suzuki, president and chief executive of real estate asset manager KJR Management. It has now spread to other sectors, such as retail and office.
&ldquo Limited new-floor supply forecasts, driven by higher construction costs, and more aggressive landlord negotiations contributed to a strong surge in office market rents,&rdquo he pointed out.
The shift has been clear in Tokyo, with vacancy rates in the office market falling below 3 per cent, based on data from CenterSquare Investment Management.
Such &ldquo modest improvements&rdquo can affect equity and real estate investment trust (Reit) valuations significantly, in light of developers&rsquo large exposure to office assets, stated the report.
Suzuki said: &ldquo Many Japan Reits have achieved cash-flow growth, which translates into higher dividends and net asset values (NAVs).&rdquo
The market, which had been trading at around a 20 per cent discount to NAV at the end of last year, has recovered to a level close to NAV, he added.
Lower funding costs, firm fundamentals to fuel appetite for Singapore commercial real estate
Paul Lee, managing partner at investment company Northmod, noted that core logistics assets in Greater Seoul and key Malaysian corridors outperformed expectations as well, with strong leasing momentum and &ldquo pockets of rental growth&rdquo .
Infrastructure in these two regions remains in favour among investors, particularly in terms of data centres, grid-support assets and renewables tied to the energy transition.
The report added that investor conviction in the data-centre theme was cemented by the initial public offering of NTT DC Reit on the Singapore Exchange this year &ndash the largest Reit listing in the city-state in the past 10 years.
Rise of China Reits
Meanwhile, demand for China Reits among investors increased, supported by the country&rsquo s low interest-rate environment.
&ldquo With 77 listed Reits, the asset class is rapidly reshaping China&rsquo s real estate capital markets,&rdquo said David Chen, chairman and CEO of FOG Capital and Asset Management, and independent director of Yuexiu Reit.
He added that the rise of China Reits occurred amid long-term apartment leasing, energy-related infrastructure, and digital centres staying &ldquo resilient&rdquo .
&ldquo More asset classes will be added to the China Reits family such as hotel, office and other formats of commercial real estate, which currently are not eligible to be publicly listed in China Reits,&rdquo said Chen.
He expects 2026 to bring more opportunities in acquiring &ldquo discounted core assets&rdquo , with a future exit into the China Reit market.
On the whole, despite ongoing geopolitical and trade uncertainty weighing on business sentiment, conditions improved for real estate in Apac in 2025.
&ldquo Declining rates boosted investor confidence towards the year end, and is expected to support stronger investment activity in 2026,&rdquo noted the report.
Structural demand drivers which have continued to strengthen range from e-commerce and data consumption to decarbonisation.
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Alignment
Elite |
14-Nov-2025 09:50
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That' s a good performance. So the yield is even higher than 7.5%. | ||||
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Joelton
Supreme |
13-Nov-2025 11:50
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NTT DC Reit posts H1 DPU of 1.69 US cents, seeks growth in Tier 1 data centre markets
It is eyeing opportunities that will reduce tenant concentration, while diversifying its portfolio geographically
[SINGAPORE] NTT DC real estate investment trust (Reit) posted a distribution per unit (DPU) of 1.69 US cents for the half-year ended Sep 30 &ndash its first financial result since listing on the Singapore Exchange in July.
The H1 DPU was 3.3 per cent higher than the Reit&rsquo s forecast of 1.64 US cents &ndash calculated based on contributions from the six data centres in its portfolio.
Four of the Reit&rsquo s data centres are located in the US &ndash three in California and one in Virginia &ndash while one data centre is in Vienna, Austria and another in Singapore.
The Reit&rsquo s gross revenue for the half-year stood at US$49.5 million, 1.8 per cent higher than the forecast. This was thanks to higher-than-expected contributions from co-location and power services, the Reit&rsquo s manager said in an earnings statement on Wednesday (Nov 12).
NTT DC Reit also recorded US$2.4 million in other operating income, as additional customisation works requested by tenants led to higher tenant fit-out revenue.
However, the fit-outs also led to property operating expenses being 1.8 per cent higher than forecast at US$27 million.
Nevertheless, the Reit&rsquo s H1 net property income still beat the forecast by 1.7 per cent, at US$22.6 million. Distributable income was US$17.4 million, 3.3 per cent higher than expected.
NTT DC Reit&rsquo s portfolio occupancy by IT load &ndash defined as contracted IT capacity divided by total design IT capacity &ndash stood at 95.1 per cent.
There was 0.5 megawatts (MW) of net leased capacity secured at the California and Virginia data centres during the period, which brought the occupancy rate there to 95.7 per cent and 98.1 per cent respectively, the Reit&rsquo s manager noted.
Meanwhile, the Singapore data centre achieved 0.3 MW of net leased capacity, bringing its occupancy to 93.4 per cent.
The Reit portfolio&rsquo s weighted average lease expiry stands at 4.4 years. As at end-September, the manager has 30 renewed 79 contracts out of 206 contracts expiring before Mar 31, 2026.
NTT DC Reit said that it has a &ldquo prudent&rdquo capital structure, with aggregate leverage at 32.5 per cent and an interest coverage ratio of 4.1 times.
Looking ahead, the Reit seeks &ldquo accretive growth opportunities in Tier 1 data centre markets&rdquo , said the manager&rsquo s chief executive Yutaka Torigoe. The aim is to reduce tenant concentration, while diversifying the portfolio geographically.
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Southmouse
Member |
13-Nov-2025 10:17
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https://www.businesstimes.com.sg/companies-markets/ntt-dc-reit-posts-h1-dpu-1-69-us-cents-seeks-growth-tier-1-data-centre-markets | ||||
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Alignment
Elite |
04-Oct-2025 19:45
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Even Bezos is calling it a bubble | ||||
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zhengqunkoo
Member |
04-Oct-2025 15:44
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What's going on with the exuberant spending on AI data centers
https://substack.com/@zhengqunkoo/note/c-162812987?r=47fdmh |
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zhengqunkoo
Member |
24-Sep-2025 09:41
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Anyone knows why the price rose? | ||||
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Jiyaji
Senior |
19-Sep-2025 16:23
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Me too . At 0.95 thought got nothing to lose 
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JAMMIE
Senior |
19-Sep-2025 15:32
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good luck . did exactly the same. if things go to plan then its dividend yields for next 3 years are going to be fantastic. and since we captured it around.95 its going to be even better. just need to keep the faith. | ||||
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nott1965
Veteran |
19-Sep-2025 14:47
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Flying quietly now. Lucky to take the risk and grabed more when atUS$0.95. Salted fish returning to life.
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Alignment
Elite |
07-Sep-2025 20:50
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I heard a hedge fund manager recently talk about the data centre industry, in particular about those that service the big US tech AI players having signed very long term triple net lease contracts with them. His point was that, if you look at the triple net lease terms and see how much revenue these tech AI players are paying and think about what that means for them including how much more capacity is projected in the future, it becomes clear that these companies will never make a profit on their investment, at least with these lease terms, because the revenue required to be generated from AI is just impossibly large. I was wondering if anyone had looked at this and if so whether they agree or not, and if so what the implications are. |
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desmlee
Member |
19-Aug-2025 21:50
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Need their IR to be more active la and go stir market interest, such limited interest for a pure play data centre is quite disappointing... how to attract more IPOs to SGX like that | ||||
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n3wbie
Elite |
18-Aug-2025 22:16
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Surprised that this stock remains very much underwater and under the radar. UBS initiated today.
Attractive valuation Initiate with Buy rating and price target of US$1.27
NTT DC REIT (NTTDR) offers investors direct exposure to the data centre theme. Its portfolio comprises 6 data centres (DC) in the US, Austria and Singapore. Leases are poised to benefit from higher contracted capacity rates and rent increases. We expect 2.7% DPU CAGR across FY26-31 that would outpace peer MINT' s 1.5%. We also see stronger inorganic growth prospects Japanese sponsors are observed to be more generous with asset sales. Our scenarios analysis shows a 20% discount on sale could facilitate inorganic dividend accretion ranging from 80-190bps for NTTDR and a 100bps lift in mid/long term growth could present up to 14% upside to our price target. NTT DATA' s plans to fund its own JPY400bn p.a. (c.US$2.7bn) capex plans could catalyze this.
Exposure to hyperscale & colocation leases expect steady organic growth
We believe income stability would be underpinned by a weighted average lease expiry (WALE) of 4.8 years and where 51.0% of the portfolio&rsquo s total monthly base rent is contributed by high-quality hyperscale customers. Also, we think income growth would be underpinned by i) 74.6% of contracts by monthly base rents with fixed escalations of 3.3% on average and 3.0% of contracts by monthly base rents with CPI-linked escalations and ii) forecasted 3.5% positive rent reversions on lease renewals.
Large sponsor pipeline with long runway for acquisition-led growth
The Sponsor, NTT DATA is the third largest DC provider globally (excluding China), with over 2,200MW of IT power in operation and under construction. It holds ~25% stake in NTTDR. Near-term, approximately 130MW of the Sponsor&rsquo s DC portfolio has been earmarked for NTTDR to potentially acquire over the next 5 years. This could enable NTTDR to double its size and capacity from approximately 90MW to over 200MW. NTTDR has US$131.1m of debt headroom before gearing reaches 40%.
Valuation: Buy rated with price target of US$1.27
We use a three-stage DDM valuation method to derive our price target. Our risk-free rate of 2.9% is based on our long-term view on Singapore&rsquo s 10-year bond yield. We use a beta of 1.1x that is consistent with peer MINT, resulting in a cost of equity of 8.4%. We also apply a 2.5% and 2.0% mid and long term growth rate. Our price target of US$1.27 implies a dividend yield of 5.9% which is closer to DC peer MINT NTTDR' s dividend is more stable and its stronger growth profile should more than offset its lower liquidity when compared to MINT.
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Sgvale
Supreme |
05-Aug-2025 10:33
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Thought this IPO can fly high but wings like clipped. | ||||
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kt3152
Supreme |
30-Jul-2025 15:52
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Keppel reit was at 89 then...now ahead of NTT at 97 cents...
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teeth53
Supreme |
24-Jul-2025 09:57
Yells: "don't learn through life, learn to grow with life " |
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NTT DC Reit Units...SGX: NTDU
✓ ✓ ✓ *0.96 (USD) +0.0100 (1.05%) today
24 Jul, 2025 ... 9:49 am...is up abit.
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Tob231
Elite |
24-Jul-2025 09:56
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Very meaning song .... thanks, Teeth53
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