Cordiant Digital Infrast... Share Discussion Threads

[cousinit] 20/12/2023 10:21

I think they hinted at this in the recent presentation. It may be worth re watching that as to the value of data centres being added to the CZ network.

[cc2014] 20/12/2023 10:00

Another acquisition this morning. Thoughts please.

The price paid looks a little racy to me based on either the revenue. There are some benefits with the rest of the CRA business but I can't say I can work out the value of that in any way at all.

Hopefully they know more about this data centre than Hudson.

I am happy enough to stay invested. I like the management and the discount to NAV. Nevertheless from where I'm sitting a bit of a leap of faith is required around this transaction.

[lord gnome] 19/12/2023 17:42

That inverse head and shoulders pattern is working out perfectly on the chart. We should have our 80p in very short order. FWIW I reckon 2024 is going to be a very good year (famous last words).

[cc2014] 19/12/2023 11:50

Share price has taken a couple of weeks to recover the dividend and now making at attempt at 75p.

Sooner or later the sellers just below 75p will cease. He says, talking to himself really with no particular evidence. But hey, fingers crossed.

[cc2014] 13/12/2023 12:35

CORD buy back another 500k shares. The 712k trade at 72p which I assume to be a buy due to it's price seems to have cleared out the seller. Hopefully permanently but this market is very fickle

[melody9999] 04/12/2023 10:05

Nice and quiet here ....meanwhile I keep adding to my position. Buys being reported as sells this am.

[cc2014] 01/12/2023 08:25

Steve Marshall not buying but the company are. Decent size too.

Regrettably the market seem willing to supply plenty of shares, as it seems is the case across the market.

[cc2014] 30/11/2023 08:54

#76

Imho price got dragged down by the terrible goings on at DGI9 in same sector.

Market now understands that none of the issues at CORD are applicable to CORD and share price is recovering.

[lord gnome] 30/11/2023 08:16

By the way. Take a look at the chart. An almost perfect inverse head and shoulders is forming. Pointing to 80p.

[lord gnome] 30/11/2023 08:15

CORD is by no means alone in its valuation issue. The same can be said for almost every REIT or infrastructure trust that I own and most of my company shares as well. It’s the state of the market and not the state of the company. Valuations in some oil and gas companies are ludicrously low.
CORD is doing just fine. I will be investing more shortly when I top up my grandchildren’s ISAs.

[boadicea] 29/11/2023 16:21

There is a gaping chasm between the company's statement of its NAV and the market valuation. CORD is not alone in this. However it implies that (1) the market believes the assets are significantly overstated, or (2) the liabilities are grossly understated or (3) there is a gigantic risk adjustment to apply to one or both of these factors.
Can someone who has studied the company in some depth venture an opinion as to which side of the balance sheet the discrepancy is primarily attributable?

[cc2014] 29/11/2023 16:13

What's the betting Steve Marshall has been out buying again today?

[jonwig] 29/11/2023 14:38

Yes - they inspire confidence. And more than once draw attention to their own shareholdings vs. the share price.

Hudson, though, is given a cursory mention: hopes of turnaround, etc. and bought cheaply. But we won't get much insight until they do turn it around.

[cc2014] 29/11/2023 13:44

Very useful presentation. I wish I had bought more.

[cc2014] 29/11/2023 09:18

Thanks for the link. I had not spotted this and will join the presentation.

What I like about this IT is not only the actual performance of the Trust but the way the results are presented. It's like they are just presenting it as it is and not trying to hide stuff with fancy language. I find the explanation of the DCF model used to calculate the NAV extremely helpful

9% target return on a price of 72p gives a return of 12.5%. Not bad at all especially as I trust them to under-promise and over-deliver.

(and especially since I've got a decent quantity at an average price of 61.9 including all costs)

[jonwig] 29/11/2023 08:03

Agreed. All good. There's a presentation at 12:00:

[lord gnome] 29/11/2023 07:21

A very quick skim through the interim report first thing. Reads well. Confident. No concerns here and happy to hold.

[madmix] 16/11/2023 15:06

I bought a few of these yesterday to add to my high yield infrastructure funds.

Whilst the dividend here is lower than others, it's well covered.

I'm attracted by the fact the NAV has been steadily growing, significant purchases by the co-founder at current levels and still decent NAV discount of 36%.

[cc2014] 16/11/2023 10:17

This is moving up nicely and I like the look of the largish block trades coming through.

[jonwig] 11/11/2023 06:49

Must agree, but then I'm biased, having bought most at 100 on launch.

The "Buy, Build & Grow" seems to be succeeding in a concentrated portfolio, though I do wonder a bit about the NY data centre.

[melody9999] 10/11/2023 17:41

I bought a few of these earlier this week which encouraged me to research in more depth. And it seems quite encouraging. The company is doing, AFAIC, what it set out to do on listing in early 21. But because of the market, you can now buy at a 45% discount to NAV (which has increased 21% since inception). Chuck in a fully covered 6% divi.

Seems to me thats a fair margin of safety .... so I bought some more. Would someone line to tell me if I am missing something? Otherwise IMV the share price should be nearer 100p.... giving me 40% capital growth and 6% divi while I wait for it to get there!

[jonwig] 02/11/2023 07:55

Another acquisition, Belgium towers and licences:



They had a buyback programme, but it was pretty half-hearted.

[cc2014] 01/11/2023 08:16

Nice to see.

What intrigues me most is who the seller is who has been selling out down at the 60p level because it's not just a few shares. They've been at it on lots of shares.

[jonwig] 01/11/2023 07:07

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.

[dickiehh] 30/10/2023 07:48

Near 50 percent discount I meant to say