Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
Net property income fell 9.5% on year to US$15.8 million for the quarter
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DIGITAL Core real estate investment trust (Reit) on Wednesday (Apr 24) posted distributable income of US$10.6 million for its first quarter ended Mar 31, 2024, down 2.4 per cent from US$10.9 million a year ago.
Gross revenue was down 8.2 per cent to US$24.6 million for the quarter, from US$26.8 million a year ago, the manager said in a quarterly business update.
Net property income fell 9.5 per cent on year to US$15.8 million for the quarter, from US$17.5 million. This was even as property expenses dropped 5.7 per cent to US$8.8 million, from US$9.3 million a year ago.
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