UOB Kay Hian analyst Jonathan Koh has initiated coverage of the newly-listed Digital Core REIT (DCREIT) with a buy call and target price of US$1.18 ($1.62). 

The REIT listed on Dec 6 at 88 US cents per share with a listing value of about US$990 million. 

In a Dec 7 report, Koh writes that the REIT, most notably, derives 68.5% of its base rental income from what is known as “hyperscalers”.

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