- Keppel DC REIT (SGX:AJBU)'s 1Q23 DPU rose 3% y-o-y to S$0.02541, due to the acquisitions of Guangdong Data Centre 2 and 3; completed asset enhancement initiatives (AEI); renewals and income escalations; and tax savings from the approval of the NetCo Bonds being qualified as Qualifying Project Debt Securities (QPDS).
- - Read this at SGinvestors.io -
- Downgrade Keppel DC REIT from BUY to ACCUMULATE. Target price for Keppel DC REIT lowered from S$2.58 to S$2.26 on higher interest expense and cost of equity. The current Keppel DC REIT's share price implies FY23e/24e DPU yields of 4.7%/4.9%.
The Positives
Portfolio occupancy remained stable at 98.5% q-o-q, with a portfolio WALE of 8.2 years.
- - Read this at SGinvestors.io -
Prudent capital management, with 73% of debt on fixed rate.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Darren Chan Phillip Securities Research | https://www.stocksbnb.com/ 2023-04-21
Read also Phillip's most recent report:
2025-01-27 Keppel DC REIT FY24 Results & 2025 Outlook - Strong Rental Growth Expected.
Previous report by Phillip:
2024-11-25 Keppel DC REIT - Acquisition Of Keppel DC Singapore 7 & 8.
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 Dividend Payout Dates & Corporate Actions,
Keppel DC REIT News
