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That' s a good performance. So the yield is even higher than 7.5%.
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.
https://www.businesstimes.com.sg/companies-markets/ntt-dc-reit-posts-h1-dpu-1-69-us-cents-seeks-growth-tier-1-data-centre-markets
Even Bezos is calling it a bubble
What's going on with the exuberant spending on AI data centers
https://substack.com/@zhengqunkoo/note/c-162812987?r=47fdmh
https://substack.com/@zhengqunkoo/note/c-162812987?r=47fdmh
Anyone knows why the price rose?
Me too . At 0.95 thought got nothing to lose 
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.
Flying quietly now. Lucky to take the risk and grabed more when atUS$0.95. Salted fish returning to life.
Sgvale ( Date: 05-Aug-2025 10:33) Posted:
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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.
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.
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
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$1.27 implies a dividend yield of 5.9% which is closer to DC peer MINT NTTDR' s dividend is more stable and its stronger growth profile should more than offset its lower liquidity when compared to MINT.
Thought this IPO can fly high but wings like clipped.
Keppel reit was at 89 then...now ahead of NTT at 97 cents...
n3wbie ( Date: 14-Jul-2025 21:17) Posted:
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NTT DC Reit Units...SGX: NTDU
✓ ✓ ✓ *0.96 (USD) +0.0100 (1.05%) today
24 Jul, 2025 ... 9:49 am...is up abit.
teeth53 ( Date: 24-Jul-2025 09:39) Posted:
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Very meaning song .... thanks, Teeth53
teeth53 ( Date: 23-Jul-2025 16:11) Posted:
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It is 4-day Traders to move up / down...(ONLY) Good, v.good for (DAY Players) to collect commissions...they will be very happy players.
bamboo300306 ( Date: 24-Jul-2025 00:22) Posted:
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"NTT DC REIT is trading in US$, is only good for day Traders....to move up / down... Big Grin
Good, very good for (DAY Players) to collect this few commission...weather is up or down. :))
n3wbie ( Date: 22-Jul-2025 22:27) Posted:
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Sgx always bring in vacuum pump to suck your money. If the company so good, will list in NYSE. Us dollar expected to drop another 5%.
https://youtu.be/csGJ_3GAe4Y?si=CiW_7lncggoJDes1 (have a rest and watch this YouTube ehh.)
Tob231 ( Date: 23-Jul-2025 13:41) Posted:
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