Dashboard containing:

• Monthly and annual share price movements for main listed digital infrastructure stocks
• Key earnings multiples
• Forward earnings multiples vs forward growth estimates
• Share price movements tracked over last twelve months

Commentary

Key developments

Overall, most listed Digital Infrastructure stocks in the region are up over the last year, but with wide spreads in performance among the group. Economic growth is expected to be sluggish relative to 2022, creating uncertain performance for Digital Infrastructure equities.

Digital Realty

Digital Realty had another strong month with the stock rising over 9% in November. The stock has performed well recently after the company released its third quarter 2023 results in late October. The release detailed strong increases in revenue and EBITDA on a pcp basis as the company increases its global data centre footprint.

DigitalBridge

DigitalBridge’s stock had a positive November rising nearly 20%, with the company releasing its third quarter 2023 results which saw strong year-on-year revenue growth and a de-leveraging of the company’s balance sheet.

Uniti Group (US)

Uniti’s stock rose over 23% in November which comes as welcome relief after the stock’s poor performance this year. The rise is attributed to the third quarter 2023 announcement by the company, which saw modest improvements in both revenue and EBITDA on a pcp basis.

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