- Keppel DC REIT (SGX:AJBU)’s 3Q23 gross revenue and net property income (NPI) increased 0.5% and 0.8% y-o-y to S$70.7m and S$64.6m, respectively. However, given the spike in finance costs from S$8.2m in 3Q22 to S$12.8m in 3Q23, DPU slipped 3.6% y-o-y to S$0.02492.
- - Read this at SGinvestors.io -
Portfolio occupancy inched down to 98.3% due to higher vacancies at Singapore assets
- Keppel DC REIT’s portfolio occupancy inched down 0.2 ppt q-o-q to 98.3% after three consecutive quarters of being stable at 98.5%. This was attributed to higher vacancies at three of its Singapore assets, but management said that it was confident in backfilling the vacant spaces.
Overall rental reversions came in positive
- - Read this at SGinvestors.io -
- Colocation leases are deliberately renewed with shorter tenors of two to three years given the still robust rental outlook.
Awaiting acquisitions with debt headroom of S$182m before reaching aggregate leverage of 40%
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-10-17
Read also OCBC's most recent report:
2024-10-18 Keppel DC REIT - Another Quarter Of Outsized Positive Rental Reversions.
Previous report by OCBC:
2024-07-29 Keppel DC REIT - Attention Grabbing 40% Rental Reversion From A Lease Renewal.
Price targets by 2 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
