Investment Trusts

Cordiant Digital Infrastructure

CORD:LSE

Cordiant Digital Infrastructure

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  • Price (GBX)64.00
  • Today's Change-0.80 / -1.23%
  • Shares traded226.20k
  • 1 Year change-24.17%
  • Beta--
Data delayed at least 20 minutes, as of May 03 2024 16:38 BST.
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About the company

Cordiant Digital Infrastructure Limited is an externally managed closed-ended investment company. The Company's principal activity is to invest in digital infrastructure assets. The Company is the owner and operator of digital infrastructure assets in the United Kingdom, the European Economic Area and North America. Its investment objective is to generate attractive total returns (on a risk-adjusted basis) for shareholders over the longer term, comprising capital growth and a progressive dividend, through investment in digital infrastructure assets. The Company invests in the core infrastructure of the digital economy, including data centers, fiber-optic networks and telecommunication and broadcast towers in Europe and North America. It seeks to generate total returns of at least 9% per annum over the longer term. Its diversified assets, in Europe and the United States serve blue-chip clients, on long term, often index-linked, contracts. Its investment manager is Cordiant Capital Inc.

  • Revenue in GBP (TTM)79.68m
  • Net income in GBP69.56m
  • Incorporated2021
  • Employees0.00
  • Location
    Cordiant Digital InfrastructureEast Wing, Trafalgar Court, Les BanquesPO Box 656SAINT PETER PORT GY1 3PPGuernseyGGY
  • Phone+44 1 481742742
  • Websitehttps://www.cordiantdigitaltrust.com/
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Profile

Management group(s)Cordiant Capital Inc
AIC sectorInfrastructure
ISINGG00BMC7TM77
Launch date16 Feb 2021
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

The Company will seek to generate attractive total returns (on a risk adjusted basis) for Shareholders over the longer term, comprising capital growth and a progressive dividend, through investment in Digital Infrastructure Assets, with a predominant focus on data centres, mobile telecommunications/broadcast towers and fibreoptic network assets, primarily located in the UK, the EEA, the United States of America and Canada.

Managed by

Benn Mikula, Steven Marshall, Mark Tiner

Management & contract fees

The annual management fee - * 1% p.a. of the Average Market Capitalisation up to, but not including GBP 500m; * 0.9% p.a. of the Average Market Capitalisation that is between GBP 500m up to and including GBP 1b; and * 0.80% p.a on such part of the Average Market Capitalisation that is in excess of GBP 1b.

Mergers & acquisitions

Acquired companyDeal statusDateDate /
Deal status
CORD:LSE since
announced
Transaction
value
Norkring Belgie NVDeal completed02 Nov 202302 Nov 2023Deal completed1.27%5.55m
Speed Fibre DACDeal completed24 Aug 202324 Aug 2023Deal completed-10.11%206.86m
Data delayed at least 20 minutes, as of May 03 2024 16:38 BST.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Schroder Asian Totl Retrn Invstmt Co PLC43.51m35.38m421.02m0.0012.590.9518--9.680.34860.34860.42544.610.0876--50.85--7.136.897.817.4386.6086.1081.3282.74----0.0027.48166.04--149.88----13.15
Abrdn Asia Focus PLC28.10m15.64m429.13m0.0031.160.9237--15.270.08950.08950.1733.020.0519--14.14--2.895.442.905.5482.1885.7655.6676.95----0.124231.751,174.3416.06419.2622.49--19.78
Third Point Investors Ltd30.82m9.10m433.41m0.0059.941.47--14.060.37540.37540.924715.260.0527--3,159.14--1.565.651.565.6533.4359.6729.5354.59----0.00--117.15--104.50------
Jpmorgan Uk Small Cap Growth & IncomePLC13.58m9.66m434.28m0.0025.480.965--31.980.1240.1240.1743.270.0486--20.45--3.452.973.813.2375.1377.5071.1572.41----0.0058.8488.18--84.20----7.35
Utilico Emerging Markets Trust PLC62.23m51.45m437.56m0.009.030.8793--7.030.25470.25470.30782.620.1165--25.87--9.642.799.872.8488.6071.1882.6859.13----0.0224111.13-81.24-17.53-91.95-28.06--3.84
Polar Capital Global Healthcare Trst PLC23.35m16.90m440.21m0.0026.061.05--18.850.13930.13930.19263.460.0515--63.28--3.737.013.927.1786.0990.4772.3584.03--16.560.00488.98-12.96-15.35-21.53-19.22--0.9806
NextEnergy Solar Fund Ltd-22.75m-40.40m446.07m0.00--0.6969-----0.0605-0.0605-0.03861.08-0.0258-------4.576.42-4.596.61--80.82--77.73----0.236580.14-54.0511.56-62.128.48--3.21
Pacific Assets Trust plc5.20m-6.06m447.55m0.00--0.9628--86.05-0.0501-0.05010.0433.840.0108--7.62---1.266.78-1.266.8113.6389.43-116.5475.78----0.0011.41-85.04-23.40-123.96----5.92
Cordiant Digital Infrastructure Ltd79.68m69.56m490.46m0.007.120.57--6.160.090.090.10311.120.0849--5.74--7.41--8.18--78.63--87.30------0.00--36.61--58.02------
Polar Capital Global Fincls Trust PLC-6.31m-15.53m502.74m0.00--1.04-----0.0454-0.0454-0.01981.58-0.0108-------2.651.33-2.681.41--77.66--44.38---2.940.1239194.67-156.57---384.86----1.86
IP Group Plc-4.90m-171.30m517.71m95.00--0.4339-----0.1653-0.1653-0.00471.16-0.0033-----51,578.95-11.750.4855-11.870.4948------5.31---0.21170.1152112.91-600.00--49.84------
Foresight Solar Fund Ltd-964.00k-9.28m521.68m0.00--0.7641-----0.0149-0.0149-0.00161.18-0.0013-------1.267.43-1.267.44--88.66--86.67----0.0082.45-100.59---106.01----2.79
Fidelity Emerging Markets Ltd79.19m58.61m530.34m0.0010.810.9833--6.700.6420.6420.86817.060.1242--42.40--9.190.04099.480.041495.2755.8274.012.22----0.003,620.90108.10-22.27102.92-33.65--0.00
Molten Ventures PLC-126.40m-160.30m539.73m58.00--0.3886-----1.05-1.05-0.82617.35-0.0957-----2,179,310.00-12.1410.15-12.2010.24------79.98---15.430.07360.00-161.90---180.94------
North Atlntc Smlr Cmpns Invtmnt Trst PLC18.16m-5.52m542.27m0.00--0.8216--29.86-0.4176-0.41761.3449.290.0268--3.92---0.81577.19-0.827.2658.2386.39-30.4184.09--0.62340.004.84-209.34---240.26------
Blackrock Throgmorton Trust PLC-10.31m-15.75m550.28m0.00--0.9938-----0.1602-0.1602-0.10346.01-0.0168-------2.561.69-2.601.73--63.88--60.01----0.001698.6496.47--94.68----8.08
Data as of May 03 2024. Currency figures normalised to Cordiant Digital Infrastructure's reporting currency: UK Pound GBX

Institutional shareholders

33.51%Per cent of shares held by top holders
HolderShares% Held
Sarasin & Partners LLPas of 16 Aug 202277.25m10.08%
Newton Investment Management Ltd.as of 07 Feb 202437.86m4.94%
Foresight Group LLP (Investment Management)as of 28 Mar 202434.44m4.50%
Nottinghamshire County Council Pension Fundas of 29 Nov 202323.13m3.02%
Valu-Trac Investment Management Ltd.as of 31 Jan 202417.27m2.25%
West Yorkshire Pension Fundas of 31 Mar 202316.39m2.14%
Waverton Investment Management Ltd.as of 29 Dec 202316.00m2.09%
Aegon Asset Management UK PLCas of 31 Jan 202414.46m1.89%
CG Asset Management Ltd.as of 29 Feb 202410.15m1.33%
Border to Coast Pensions Partnership Ltd.as of 30 Sep 20239.80m1.28%
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Data from 31 Mar 2023 - 02 Apr 2024Source: FactSet Research Systems Inc.
Data Provided by LSEG
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