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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cordiant Digital Infrastructure Limited | LSE:CORD | London | Ordinary Share | GG00BMC7TM77 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.20 | -0.23% | 88.00 | 750,412 | 15:49:52 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 88.00 | 88.80 | 89.20 | 88.00 | 89.20 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trust,ex Ed,religious,charty | 105.52M | 80.3M | 0.1049 | 8.39 | 675.36M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:23 | UT | 708 | 88.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 05/9/2024 | 14:16 | ALNC |  Cordiant Digital claims "strong" first quarter with secure dividend |
| 05/9/2024 | 07:00 | UK RNS | Cordiant Digital Infrastructure Ltd First Quarter Trading Update |
| 23/8/2024 | 12:44 | ALNC | IN BRIEF: Cordiant Digital Infrastructure co-founder buys more shares |
| 23/8/2024 | 07:00 | UK RNS | Cordiant Digital Infrastructure Ltd Investment Manager Share Purchases |
| 21/8/2024 | 13:01 | ALNC | IN BRIEF: Cordiant Digital Infrastructure co-founder buys shares |
| 21/8/2024 | 07:00 | UK RNS | Cordiant Digital Infrastructure Ltd Investment Manager Share Purchases |
| 20/8/2024 | 07:00 | UK RNS | Cordiant Digital Infrastructure Ltd Investment Manager Share Purchase |
| 07/8/2024 | 18:43 | ALNC | TRADING UPDATES: Savannah Energy's Petronas deal falls through |
| 07/8/2024 | 07:00 | UK RNS | Cordiant Digital Infrastructure Ltd CRA refinances long-term senior credit.. |
| 24/7/2024 | 10:43 | UK RNS | Cordiant Digital Infrastructure Ltd Result of AGM |
Cordiant Digital Infrast... (CORD) Share Charts1 Year Cordiant Digital Infrast... Chart |
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1 Month Cordiant Digital Infrast... Chart |
Intraday Cordiant Digital Infrast... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 10/10/2024 | 19:20 | Cordiant Digital Infrastructure Ltd | 226 |
| 06/5/2021 | 08:45 | INFRASTRUCTURE FOR THE INFORMATION AGE | 30 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 13/10/2024 09:20 by Cordiant Digital Infrast... Daily Update Cordiant Digital Infrastructure Limited is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker CORD. The last closing price for Cordiant Digital Infrast... was 88.20p.Cordiant Digital Infrast... currently has 765,715,477 shares in issue. The market capitalisation of Cordiant Digital Infrast... is £673,829,620. Cordiant Digital Infrast... has a price to earnings ratio (PE ratio) of 8.39. This morning CORD shares opened at 89.20p |
Posted at 03/10/2024 11:16 by cc2014 I am quite interested to see what happens next with the share price.The trades going through suggest to me that someone is collecting a position. The question is always how determined are they and how many more do they want, have they set a upper limit the are prepared to pay of 88p or are they happy to go higher if they don't any much volume. |
Posted at 02/10/2024 00:01 by retail_rights_research Research note from Investec:Cordiant Digital Infrastructure (CORD) Price: 85.4p | Rec: Buy Ceské Radiokomunikace (CRA) is a strong, stable business which is growing revenues and EBITDA across all key business areas. It continues to strengthen its position as broadcasting market leader whilst also focusing on data centre and cloud development. The revenue CARs in broadcasting, towers/telecoms and data centres/cloud over the last two years (to March 2024) have been 3.3%, 7.7%, and 24.3% respectively, whilst CRA's overall EBITDA growth over the same period was 13.1%. The business has demonstrable future growth opportunities across key sectors and in particular in the Data Centre and Cloud segments, whilst the recent refinancing provides the company with additional flexibility to deploy growth capex and finance potential bolt-on acquisitions. The Enterprise Value (31 March 2024 valuation adjusted for FX) of the business is currently c.£512m and this gives an EV/EBITDA multiple of 11.6x (12m to March 2024 EBITDA), although clearly the multiple implied by CORD's share price is materially lower at around 8.9x. In our view, the prospects for revenue and EBITDA growth, through projects such as the Zbraslav Data Centre if they can be delivered, support future value accretion that is not priced into the current NAV and is clearly undervalued by CORD's share price. |
Posted at 20/9/2024 11:06 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 15/9/2024 22:47 by retail_rights_research Excerpt of research note from Deutsche Bank Numis on CORD's latest trading update:"Strong trading update CORD continues to deliver positive updates to the market, illustrating the quality of the underlying portfolio base which have been acquired at attractive multiples and continue to achieve impressive revenue and EBITDA growth as management teams execute business plans. Dividend cover metrics remain very healthy at 1.6x and the manager continues to highlight opportunities for growth capex within the existing asset base to further support attractive returns. The board also point to a number of promising initiatives under way to create further value. Importantly, CORD has ensured it has healthy levels of liquidity to facilitate its business plans and a robust balance sheet which is more conservatively geared than other digital and mid market infrastructure strategies. We continue to view the shares as offering excellent value for access to a high-quality portfolio which gives exposure to one of the most significant infrastructure investment them |
Posted at 12/9/2024 16:24 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 08/9/2024 22:18 by retail_rights_research Share price discount to reported net asset value is indeed significant on this one. I also suspect the unwarranted association with Digital 9 is not helping.From what I can tell: - Significant insider buying, including from the founder who seems to have accumulated over 10 million shares - Research analysts all seem to be positive (incl. Investec, Jefferies, Numis, Stifel, Liberum, Barclays) - They just refinanced a whole bunch of debt facilities on seemly good terms (bullet repayments) - so no maturities until middle of 2029 - Leverage seems conservative for an infrastructure play - Dividend is well covered by cash flow - Ample liquidity to fund new investments - EBITDA is growing fast - 14% in the recent trading update - Exposure to non-UK geographies e.g. Poland, Czech Republic, Ireland, US - this is a great geographical diversification play - Transparent reporting - they report every quarter in a lot of detail - not every investment trust does this - They should of course be benefiting from the mega trends of data growth, AI, etc. |
Posted at 08/9/2024 12:16 by petomi Agreed probablyNAV at March YE was 120.1p so our price of 80p is c33% discount, and the NAV can hardly have fallen since then, ie the discount which emerges when they publish hard NAV numbers next may be even higher. I'm sure sector sentiment from the DGI9 fiasco is part of the discount issue (hence CORD emphasising their financial strength). I am normally wary of companies bewailing their share price undervaluation but the recent manager purchases are certainly a meaningful vote of confidence. If they can start unlocking value from Hudsons Yard (which has been the only hiccup to date) there could be a rerating to 100p plus with still a discount to NAV. hxxps://www.mornings GLA |
Posted at 21/6/2024 08:48 by cc2014 Cordiant Digital remains a ‘buy’ after another strong yearSince announcing a £20m share buyback programme in February 2023, the board has spent £5.4m, which analysts believed was low given the portfolio’s strong earnings and low debt levels. ‘Whilst share buyback activity has been relatively modest since the buyback programme was first announced, we see potential for the company to increase the pace and/or frequency of share buybacks given the excess cashflow being generated,’ said Peel Hunt’s Markuz Jaffe. He added that the 5.8%-yielding fund was well positioned to continue growing the dividend given the underlying portfolio’s strong fundamentals and long-term inflation-linked revenue contracts. Liberum’s Shonil Chande noted that the discount was too wide given that Cordiant owns its businesses, has control of cash distributions, has a covered dividend and acquires in the mid-market, which provides scope for multiple uplifts in the future. At period end, the fund had net debt of £585m, or 4.5 times the portfolio’s pre-tax profits, which he said was ‘solid’. ‘We rate CORD as “buy” with a 120p target price,’ he said. I'll take 120p. That would be fine. |
Posted at 10/5/2024 21:34 by probablynotphil I've been following CORD for around 6 months now. Managed to build up a sizable holding at an average of 66p (started at 72p so been working my average down recently).It's been a frustrating few months, but I truly believe this share has massive upside potential. The companies held are highly cash generative, located in up and coming economies and have lots of opportunities. Management is confident, experienced, and most importantly they're personally invested so they have skin in the game. I'm happy to sit on it for now and bank a 6% dividend, patiently waiting for the tide to turn on interest rates and negative perception of Investment Trusts (particularly DGI9) to subside. At that point, the share price will close in on the discount and I'll probably wish I topped up even more at these low levels. A ~40% discount is way oversold for this particular trust imho. |
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 |
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