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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cordiant Digital Infrastructure Limited | CORD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.60 | 1.78% | 91.40 | 16:35:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 90.20 | 90.20 | 91.60 | 91.40 | 89.80 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 20/9/2024 10:06 by houseofpain1 And by Tempus in The Times today:The Cordiant Digital Infrastructure trust is one of many infrastructure funds that are trading well below the value of their net assets. But with lower interest rates and help around a cost disclosure issue, the clouds looming over the sector could be about to part. Cordiant is designed to give investors exposure to the infrastructure that supports the digital economy, including data centres, telecommunications towers and fibre networks. The trust, which was the first digital infrastructure fund to list on the London market in 2021, has invested its £1 billion portfolio in five assets that together hold nine data centres, more than 1,000 towers and stakes in more than 10,000km of fibre networks. Cordiant certainly compares well with Digital 9 Infrastructure, a rival fund, which this month wrote down its net asset value by around 43 per cent after obtaining an independent valuation on some companies in its portfolio. Cordiant remains well respected in the City, with a portfolio of cash-generative companies, no debt maturing until 2029 and a well-covered dividend. Indeed, the fund, which has a yield of 4.9 per cent, offers shareholder payouts that are covered 4.5 times by its portfolio’s adjusted cash profits and 1.6 times by free cashflow, after continuing costs. An update earlier this month showed that revenues generated by the companies in the portfolio grew 9 per cent in first quarter of its financial year, with adjusted cash profits up by 14 per cent. Still, the troubles at Digital 9 — its shares are down by more than 60 per cent in the past 12 months alone — have shaken investor confidence in the sector. This goes some way to explain why Cordiant’s shares still trade at a third below their net asset value, even with a 10 per cent rally in the price so far this year. Given the progress between the government and the FCA on cost disclosure rules, which have hit infrastructure funds particularly hard, and good progress within the portfolio, Cordiant’s rally looks like it still has a way to go yet. Advice: Buy Why? Brighter outlook for infrastructure trusts |
Posted at 12/9/2024 15:24 by petomi Fair summary in the IC contrasting us and DGI9. GLAA tale of two digital infrastructure trusts - Investors' Chronicle (investorschronicle. The contrast between Digital 9 and the only other peer on the market, Cordiant Digital Infrastructure (CORD), couldn’t be greater. Stifel analysts recently called Cordiant “structurally robust”, emphasising that it has no debt maturing until 2029, and the dividend is covered; Numis analysts have praised its portfolio of “cash generative companies at attractive multiples, which are capable of self-funding growth, supported by stable and flexible balance sheets”. We’re all perfect investors in hindsight, but looking at what the two trusts did differently can perhaps teach us something. Cartridge says that a key mistake made by Digital 9 was that it tried to please everyone, by offering both an attractive dividend and the potential for high growth. In a changed funding environment, this proved impossible to deliver. Numis analysts agree, noting that at its IPO, Digital 9 promised a dividend that was uncovered and looked high in the context of its investments in “growth-hungry digital companies”. “This was compounded by the acquisition of businesses that could not fully self-fund growth and weak equity markets removing the prospect of raising fresh equity,” they add. In a nutshell: if it looks too good to be true, it’s probably because it is. By contrast, Cordiant was managed more prudently and was able to gradually increase its dividend. Cartridge also notes that there is a good alignment of interest between shareholders and Cordiant’s board, with chair Steven Marshall owning more than £8mn-worth of shares. Cordiant was trading at a 34.5 per cent discount as of 9 September, and part of this could be due to investors becoming sceptical about the sector after Digital 9’s woes. Once Digital 9 is taken off the market, there is hope that Cordiant will be able to “shine brighter”, Cartridge concludes. |
Posted at 01/7/2024 11:13 by rogen83 I gave the company and their PR team a hard time by not allowing private investors to attend the analyst call. Whether you own 50k shares or 1m |
Posted at 01/7/2024 02:23 by rambutan2 Here's the recent results presentation, for anyone (like me) who was not allowed (by the gatekeepers) to attend it live: |
Posted at 13/5/2024 10:50 by riverman77 This is yet another one AJ Bell have restricted because it's failed some fair value assessment - if you ring up they can remove the block.Good news that AVI have taken a stake - very savvy investors and not afraid to use their clout to ensure value is unlocked. |
Posted at 30/4/2024 07:24 by spectoacc Confident:"Cordiant Digital Infrastructure Limited (the "Company"), the operationally focused specialist digital infrastructure investor, is pleased to confirm that Steven Marshall, Chairman and Co-Founder of Cordiant Digital Infrastructure, purchased in April 2024 a total of 310,326 ordinary shares in the capital of the Company at an average price of 64.0 pence." |
Posted at 06/2/2024 09:11 by cc2014 That's the nature of the stock market. Sometimes it just goes irrational imho. And sometimes it goes irrational for extended periods of time and it's necessary to just wait while things sort themselves out.There are a number of things going on but for sure DGI9 is not helping. Poorly researched investors (and that would include institutions) are going to wonder if DGI9 can repeat itself here and until those investors are off the register and replaced with ones who have higher levels of conviction the share price is going to remain depressed. In the long run of course the figures will speak for themselves but I suspect it's going to take 12 months before the market sees sufficient separation between DGI9 and CORD that CORD starts to get valued as it should. I also fear we have not yet seen the end of the issues at DGI9 and investors will remain disappointed over there. Arqiva looks a right mess to me. We will see how things progress from here. CORD has done most of the investment phase now it's time to see the growth path and how good the management are at managing them |
Posted at 01/11/2023 07:07 by jonwig Cordiant Digital Infrastructure Limited (the "Company"), the operationally focused specialist digital infrastructure investor, is pleased to confirm that Steven Marshall, Chairman and Co-Founder of Cordiant Digital Infrastructure, purchased on Friday 27 October 2023 a total of 1,127,957 ordinary shares in the capital of the Company at a price of 61.0 pence per ordinary share.Following this purchase, Mr Marshall owns a total of 6,927,957 ordinary shares. The number of ordinary shares held by the Directors of the Company and the Investment Manager (either directly or by its staff) now represents 1.20% of the entire issued share capital of the Company. |
Posted at 20/9/2023 06:12 by jonwig Cordiant Digital Infrastructure Limited (the "Company"), the operationally focused specialist digital infrastructure investor, is pleased to confirm that Steven Marshall, Chairman and Co-Founder of Cordiant Digital Infrastructure, has purchased a total of 1,000,000 ordinary shares in the capital of the Company at a weighted average price of 71.4 pence (at a high of 72.4 pence and a low of 70.4 pence).Following these purchases, Mr Marshall owns a total of 5,300,000 ordinary shares. Clearly the market is providing an opportunity! |
Posted at 24/8/2023 09:38 by speedsgh Acquisition of Speed Fibre Group - Cordiant Digital Infrastructure Limited (the "Company" or "CORD"), an operationally focused specialist digital infrastructure investor, is pleased to announce that it has entered into an agreement to acquire the entire issued share capital of Speed Fibre DAC ("Speed Fibre"), Ireland's leading open access fibre infrastructure provider (the "Transaction"). Speed Fibre is being acquired from the Irish Infrastructure Fund for a total enterprise value of €190.5 million. The equity consideration of €97 million will be funded by €68 million in cash and €29 million through a vendor loan note with an initial interest rate of 6% and a maturity of four years. On closing, Speed Fibre will be the fourth digital infrastructure platform acquired by the Company since its launch in 2021 and is consistent with its investment programme of buying strategic, cash flow generating platforms under its "Buy, Build & Grow" model. The acquisition further diversifies CORD's portfolio on a sub-sector and geographic basis. The Transaction is subject to customary regulatory approvals in Ireland and the United Kingdom and is expected to close later this year. Speed Fibre operates 5,400 kilometres of owned and leased fibre and wireless backhaul across Ireland, on which it provides dark fibre, wavelength and ethernet services to a mix of carriers, internet service providers, corporate customers, and the government. The business is also well-positioned to serve Ireland's growing data centre sector, which is expected to be the fastest growing hyperscale data centre market in Western Europe over the next six years. While primarily a backbone provider, Speed Fibre's subsidiary, Magnet Plus, provides connection and service to approximately 10,000 business and retail customers in Ireland. With a stable business model, sales growth and high revenue and cash flow visibility, Speed Fibre generated revenues of c. €80 million and EBITDA of c. €23 million in 2022. Outstanding gross debt of c. €111 million as at December 2022 and which matures in 2029 is provided by three bank lenders, all of whom have committed to continue to support Speed Fibre under the Company's ownership. Gross debt was balanced by c. €19 million of cash on hand at year end 2022. Speed Fibre has a strong ESG and sustainability focus, earning a 5-star rating from GRESB, an independent organisation providing validated ESG performance data, and is targeting net zero carbon emissions by 2040. Shonaid Jemmett-Page, Chairman of Cordiant Digital Infrastructure Limited, said: "As a fourth significant investment, Speed Fibre represents a further strategic milestone for the Company. Speed Fibre operates in a new market for CORD where data consumption growth is expected to be among the highest in Europe. This provides additional portfolio cash flow supported by high visibility revenues from wholesale contracts with global blue-chip customers and offers the potential to generate long-term value and attractive returns to shareholders." Steven Marshall, Chairman of Digital Infrastructure at Cordiant Capital, added: "We are delighted to add another pillar to the Company's portfolio. Speed Fibre is uniquely positioned as the leading independent national fibre and wireless backhaul operator and is poised to play an expanding role in Ireland's digital economy. We expect to drive organic growth from existing customer traffic on its current network plus invest growth capex in new strategic fibre projects around Ireland and beyond." Benn Mikula, Co-CEO and Managing Partner at Cordiant Capital, added: "Speed Fibre is a further step in the growth and diversification of the Company's portfolio. We are deploying capital into a key market in Western Europe's evolving data economy. Moreover, Speed Fibre's position as an important wholesale fibre and backhaul platform offers growth potential and complementarity with other digital infrastructure assets. The Transaction reinforces our 'Buy, Build & Grow' strategy." |
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