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Digico Infrastructure REIT
(Sydney:DGT)
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Rating:53Neutral
Price Target:
AU$3.00
â–²(16.73% Upside)
Action:N/A
Date:09/06/26
The score is held back primarily by weak financial performance—continued net losses and negative free cash flow despite improved revenue, margins, and operating cash flow. Technicals are supportive with price trending above major moving averages and positive momentum indicators, while valuation is mixed: a solid dividend yield is offset by the lack of profitability implied by a negative P/E.
Digico Infrastructure REIT (DGT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.52B
Dividend Yield4.4%
Average Volume (3M)1.34M
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees47
SectorGeneral
Sector StrengthN/A
IndustryREIT - Specialty
Share Statistics
EPS (TTM)-0.10
Shares Outstanding559,063,960
10 Day Avg. Volume1,728,342
30 Day Avg. Volume1,339,396
Financial Highlights & Ratios
PEG Ratio0.97
Price to Book (P/B)0.58
Price to Sales (P/S)6.21
P/FCF Ratio-12.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$3.36Price Target Upside30.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.14
Revenue Forecast (FY)AU$234.64M
Digico Infrastructure REIT Business Overview & Revenue Model
Company Description
DigiCo Infrastructure REIT (DGT) is a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across Stabilized, Value-add and Development opportunities. DGT’s portfolio consists of data cent...
How the Company Makes Money
DGT makes money by owning telecommunications infrastructure real estate and monetizing it through contracted access and tenancy arrangements with telecom customers. Its core revenue stream is recurring rental or access income paid by mobile networ...
Digico Infrastructure REIT Earnings Call Summary
Earnings Call Date:Feb 20, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 19, 2027
Earnings Call Sentiment Positive
The call conveyed material operating momentum: double-digit revenue and EBITDA growth, strong Australian leasing activity (41 MW contracted, +95% vs June 2025), derisking and attractive economics for the SYD1 expansion (20 MW on track, full 88 MW targeting ~15% yield on cost), solid liquidity ($658M) and upgraded FY26 EBITDA guidance to $125M. Offsetting items include execution/timing risk on Los Angeles approvals, capital-partnering uncertainty, accounting complexities around Chicago pre-completion income, and a significant net debt balance. On balance, the positive operational progress, upgraded guidance, derisked high-return development pipeline and ample near-term liquidity outweigh the medium-term funding and execution uncertainties.Positive Updates
Revenue and EBITDA Growth
Revenue for the 6 months to 31 Dec 2025 was $108.0M, up 11.5% sequentially; underlying EBITDA rose 15% to $57.0M, demonstrating improved margin contribution (positive mix shift toward higher-margin U.S. revenue).
Negative Updates
Share Price and NAV Discount
Management acknowledged that share price performance since IPO has been disappointing and remains at a discount to net asset value despite operational progress; NAV per security largely flat over the period ($4.50).
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and EBITDA Growth
Revenue for the 6 months to 31 Dec 2025 was $108.0M, up 11.5% sequentially; underlying EBITDA rose 15% to $57.0M, demonstrating improved margin contribution (positive mix shift toward higher-margin U.S. revenue).
Read all positive updates
Company Guidance
Management upgraded FY‑26 underlying EBITDA guidance to $125m (top of prior $120–125m range) and reiterated a July‑2026 annualized run‑rate EBITDA target of $180m, while maintaining FY‑26 growth CapEx of $160–180m; H1 revenue was $108m (+11.5%), H1 underlying EBITDA $57m (+15%), adjusted FFO $30.5m and H1 CapEx $50m. The group declared a H1 distribution of $0.06 per security (implying $0.12 for the year and a 90–100% FFO payout policy), equating to a 5.3% annualized yield, and noted cash of $349m, undrawn facilities of $309m (total liquidity $658m), net debt $1.51bn, gearing 35.8% (target 35–45%), NAV $4.50ps (adjusted NAV $4.62ps) and interest hedged at an all‑in ~6% with WA debt tenor 3.4 years and no maturities before FY‑29. Operationally, Australia signed 22MW in H1 taking Australian contracted capacity to 41MW (95% growth since June‑25), SYD1’s next 20MW tranche is 100% contracted and on track for delivery in the June quarter, and the full 88MW SYD1 program (over ~3 years, two years ahead of the IPO plan) is targeted to deliver a 15% yield on cost and at least $1.50 of NAV per security; management also flagged >50MW embedded upside at SYD1, a qualified pipeline >200MW, and a $15m/MW build metric (c. $930m for the incremental 62MW).Digico Infrastructure REIT Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
56
Neutral
Cash Flow
34
Negative
| Breakdown | Jun 2025 | Jun 2025 |
|---|---|---|
Income Statement | ||
| Total Revenue | 150.09M | 74.39M |
| Gross Profit | 79.79M | -32.92M |
| EBITDA | 73.14M | 17.31M |
| Net Income | -69.75M | -44.35M |
Balance Sheet | ||
| Total Assets | 3.05B | 2.99B |
| Cash, Cash Equivalents and Short-Term Investments | 165.46M | 278.39M |
| Total Debt | 1.28B | 1.23B |
| Total Liabilities | 1.45B | 1.35B |
| Stockholders Equity | 1.59B | 1.64B |
Cash Flow | ||
| Free Cash Flow | -76.95M | -1.26B |
| Operating Cash Flow | 93.21M | 16.59M |
| Investing Cash Flow | -173.07M | -2.10B |
| Financing Cash Flow | -71.76M | 2.36B |
Digico Infrastructure REIT Technical Analysis
Positive
2.57
Price Trends
2.64
Positive
2.55
Positive
2.39
Positive
Market Momentum
0.02
Negative
55.38
Neutral
67.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DGT, the sentiment is Positive. The current price of 2.57 is below the 20-day moving average (MA) of 2.69, below the 50-day MA of 2.64, and above the 200-day MA of 2.39, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.38 is Neutral, neither overbought nor oversold. The STOCH value of 67.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:DGT.
Digico Infrastructure REIT Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$748.92M | 9.99 | 7.93% | 6.97% | -12.18% | -11.49% | |
69 Neutral | AU$56.65B | 20.10 | 11.41% | 1.11% | 17.33% | 59.19% | |
67 Neutral | AU$1.85B | 11.23 | 6.45% | 5.75% | 6.35% | 22.57% | |
64 Neutral | AU$6.17B | 13.14 | 4.83% | 6.37% | -28.16% | 250.74% | |
56 Neutral | AU$1.56B | 17.39 | 3.90% | 8.89% | -0.03% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | AU$1.52B | -19.08 | -3.57% | 4.40% | ― | ― |
* General Sector Average
AU:DGT
Digico Infrastructure REIT
2.73
-0.15
-5.34%
AU:DXS
Dexus
5.81
-1.06
-15.48%
AU:GMG
Goodman Group
27.10
-5.40
-16.61%
AU:GOZ
Growthpoint Properties Australia
2.07
-0.25
-10.81%
AU:DXI
Dexus Industria REIT
2.38
-0.26
-9.98%
AU:CIP
Centuria Industrial REIT
2.92
-0.26
-8.12%
Digico Infrastructure REIT Corporate Events
DigiCo Infrastructure REIT boosts director’s indirect stake via equity-paid management fees
Sep 2, 2026
DigiCo Infrastructure REIT has disclosed a change in director interests involving David Anthony Di Pilla, a director of HMC Digital Infrastructure Ltd, through a network of controlled entities and trusts. His relevant holdings are primarily indire...
DigiCo Infrastructure REIT Issues Securities to Pay Management Fee
Sep 2, 2026
DigiCo Infrastructure REIT has issued 748,128 stapled securities to its Investment Manager’s nominee as payment in kind of the management fee for the period from 1 June to 30 June 2026. The securities were issued without a prospectus under s...
DigiCo Infrastructure REIT Director Increases Equity Holding via Board Fee Rights
Aug 27, 2026
DigiCo Infrastructure REIT has disclosed a change in the security holdings of non‑executive director The Hon. Kelly O’Dwyer following the exercise of rights granted under the company’s equity plan. O’Dwyer converted 9,890 r...
DigiCo Infrastructure REIT Sets 6.0 Cent Half-Year Distribution With No Fund Payment Component
Aug 26, 2026
DigiCo Infrastructure REIT has declared a cash distribution of 6.0 cents per stapled security for the six months to 30 June 2026, payable around 28 August 2026, with the ex-date set at 29 June and record date at 30 June. No dividend was determined...
DigiCo Infrastructure REIT lodges ASX governance statement and Appendix 4G
Aug 20, 2026
DigiCo Infrastructure REIT has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX and published it on its website in line with listing rule obligations. The statement, approved by the boards of HMC Digital Infra...
DigiCo Beats FY26 Guidance as It Accelerates Australian Data Centre Expansion
Aug 20, 2026
DigiCo Infrastructure REIT reported full-year FY26 Underlying Revenue of $239 million and Underlying EBITDA of $127 million, exceeding guidance, while maintaining gearing at 39% within its target range and distributing 12.0 cents per security. Liq...
DigiCo Infrastructure REIT Lifts Revenue but Posts Wider Annual Loss
Aug 20, 2026
DigiCo Infrastructure REIT reported a sharp rise in revenue and interest income to $216.8 million for the year ended 30 June 2026, up 90% from the prior period’s $113.9 million, but the stapled group’s loss after tax widened to $100.8 ...
DigiCo Infrastructure REIT Names Co-Heads as Focus Shifts to Data Centre Growth
Aug 20, 2026
DigiCo Infrastructure REIT has appointed Chief Financial Officer Simon Mitchell and Chief Development Officer Ralph Goninan as Co-Heads of DGT, effective 21 August 2026, with Interim Chief Executive Officer Chris Maher stepping down. The board hig...
DigiCo Infrastructure REIT to Release Escrowed Securities After FY26 Results
Aug 14, 2026
DigiCo Infrastructure REIT, a global data centre owner and developer, operates a diversified portfolio of stabilised, value-add and development assets that support digital infrastructure and data connectivity worldwide. The trust’s strategy ...
DigiCo Infrastructure REIT CEO Michael Juniper Steps Down
Jun 25, 2026
DigiCo Infrastructure REIT announced that Chief Executive Officer and Director Michael Juniper, who had been on extended personal leave, will not return to the business and has stepped down from both roles effective immediately. The board has laun...
DigiCo Infrastructure REIT boosts director’s indirect stake via scrip fee issuance
Jun 25, 2026
DigiCo Infrastructure REIT has disclosed a change in director David Di Pilla’s relevant interests in the trust’s fully paid stapled securities, reflecting an increase in his indirect holdings. The additional securities are held through...
State Street Group Ceases to Be Substantial Holder in Digico Infrastructure REIT
Jun 24, 2026
State Street Corporation, through various global asset management and trust subsidiaries, has filed a notice that it has ceased to be a substantial holder in Digico Infrastructure REIT as of 22 June 2026. The change reflects a reduction in its rel...
Digico Infrastructure REIT Seeks ASX Quotation for 4.8 Million New Stapled Securities
Jun 22, 2026
Digico Infrastructure REIT has applied for quotation on the ASX of 4,811,715 fully paid ordinary stapled securities under its DGT ticker, with an issue date of 23 June 2026. The new securities, issued as part of a previously announced transaction,...
DigiCo Infrastructure REIT issues securities in lieu of management fee
Jun 22, 2026
DigiCo Infrastructure REIT has issued 4,811,715 stapled securities to the investment manager’s nominee as payment of the management fee covering the period from 1 December 2025 to 31 May 2026, rather than paying this obligation in cash. The ...
Digico Infrastructure REIT Plans Placement of Up to 4.8 Million Securities
Jun 18, 2026
Digico Infrastructure REIT has notified the ASX of a proposed issue of up to 4,811,715 fully paid ordinary stapled securities under a placement or similar type of capital raising. The new securities, expected to be issued on 23 June 2026, indicate...
Digico Infrastructure REIT Announces AUD 0.06 Half-Year Distribution
Jun 17, 2026
Digico Infrastructure REIT has declared a six-month distribution of AUD 0.06 per fully paid stapled security for the financial period ending 30 June 2026. The units will trade ex-distribution on 29 June, with a record date of 30 June and payment s...
DigiCo Infrastructure REIT Announces H2 FY26 Distribution and Reviews Capital Management
Jun 17, 2026
DigiCo Infrastructure REIT has declared a distribution of 6.0 cents per security for the period to 30 June 2026, with securities trading ex-distribution on 29 June, a record date of 30 June and payment expected on or about 28 August 2026. The trus...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.