- Keppel DC REIT (SGX:AJBU)'s 3Q22 revenues and NPI increased 1.3% and 1.6%, respectively, mainly due to higher contribution from Guangdong DC 2 and 3. Rental escalations have helped to partially offset some of the inflation in operating costs. See Keppel DC REIT's announcement dated 26 Oct 2022.
- - Read this at SGinvestors.io -
9M22 DPU forms ~77% of our estimates.
- Keppel DC REIT's 3Q22 DPU of S$0.02585 is slightly higher q-o-q, 9M22 DPU makes up ~77% of our full-year estimates.
- - Read this at SGinvestors.io -
Strong portfolio occupancy
- Riding on the continued strong demand for data centres in all the markets Keppel DC REIT operates, portfolio occupancy improved further to 98.6%. This is mainly due to the inclusion of the master-leased Guangdong DC 2 and 3, as well as higher occupancy at Keppel DC Dublin 1.
- Only 2.6% of portfolio leases remain to be renewed in 4Q22, and a further 13.3% of leases are due in FY23.
All-in financing costs increased to 2.0% on the back of rising interest rates
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-10-27
Read also DBS's most recent report:
2024-01-29 Keppel DC REIT - Collaboration Instead Of Litigation.
Previous report by DBS:
2023-07-25 Keppel DC REIT - Where Will The Next Accretive Acquisition Come From?.
Price targets by 4 other brokers at Keppel DC REIT Target Prices.
Listing of research reports at Keppel DC REIT Analyst Reports.
Relevant links:
Keppel DC REIT Share Price History,
Keppel DC REIT Announcements,
Keppel DC REIT Dividends & Corporate Actions,
Keppel DC REIT News Articles
