Keppel DC REIT - OCBC Investment 2024-07-29: Attention Grabbing 40% Rental Reversion From A Lease Renewal

• Keppel DC REIT (SGX:AJBU)’s 1H24 gross revenue and net property income (NPI) increased 11.9% and 4.2% y-o-y to S$157.2m and S$132.6m, respectively.
• However, given an increase in finance costs by 14.1%, negative FX impact and loss allowances made for receivables in relation to its Guangdong data centres, Keppel DC REIT's DPU for 1H24 fell 9.9% y-o-y to 4.549 Singapore cents. This was however, an increase of 5.0% on a h-o-h basis as issues surrounding its Guangdong data centres had occurred in 2H23.

1H24 results in-line with our expectations

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

Secured positive rental reversions above 40% for a major contract renewal in Singapore as part of its Keppel leases

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-04-17 Keppel DC REIT - Strong Positioning In Singapore A Positive.

Previous report by OCBC:
2025-01-27 Keppel DC REIT - Well Poised To Deliver Healthy DPU Growth In FY25.

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 Dividend Payout Dates & Corporate Actions,
Keppel DC REIT News