Financing cost 2.6x base rent
Company: Applied Digital
The claim, verbatim
Including capitalized interest and Macquarie preferred dividends paid in kind, financing cost 2.6x the $65.8 million of base rent collected in the quarter ended Aug. 31.
Source (primary)
CoreWeave Has “a Sentiment Problem.” Its Landlord Applied Digital Has $11 Billion Riding on It - TIKR.com (-, news_article)
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Quote: “Counting the interest it capitalized into construction and the preferred dividends Macquarie took in kind, financing cost 2.6x the $65.8 million of base rent Applied Digital collected that quarter.”
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Additional evidence
confirms CoreWeave Has “a Sentiment Problem.” Its Landlord Applied Digital Has $11 Billion Riding on It - TIKR.com
Quote: “Counting the interest it capitalized into construction and the preferred dividends Macquarie took in kind, financing cost 2.6x the $65.8 million of base rent Applied Digital collected that quarter.”