NTT DC Reit posts Q1 net property income of US$27.9 million, beats IPO forecast by 5%
But the revenue of US$58.1 million falls short of projections
NTT DC Reit, a pure-play data centre real estate investment trust (Reit), reported a net property income of US$27.9 million for the first quarter of FY2027, surpassing the initial public offering (IPO) forecast by 5%. The company's distributable income for the same period stood at US$22.6 million, exceeding the IPO projection by 10.6%.
However, revenue fell short of expectations, with US$58.1 million recorded, 1.1% below the IPO projection of US$58.7 million. The majority of committed leases are anticipated to start contributing to revenue in Q3 FY2027. Portfolio occupancy by IT load increased to 95.9% by the end of June 2024, up from 95.1% as of March 31, 2024.
The Reit holds six assets in the US, Singapore, and Europe, Middle East, and Africa regions, with a total design IT load of 90.7 megawatts.
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