- Keppel DC REIT (SGX:AJBU) reported DPU of 4.549 cents for 1H24 (-9.9% y-o-y), which is above our expectations.
Favourable outcome for dispute with DXC.
- Gross revenue increased 11.9% y-o-y, boost by the settlement sum relating to the dispute with DXC. The settlement sum of S$11.2m was received in Apr 24 (after deducting related expenses and GST) and would be distributed in two equal tranches in 1H24 and 2H24.
- - Read this at SGinvestors.io -
Positive rental reversion across the portfolio.
- Keppel DC REIT achieved positive reversion of more than 40% for a major renewal contract in Singapore in 2Q24, a reflection of strong demand and tight vacancy locally. Master leases for its fully fitted and shell & core data centres provide built-in rental escalations of 2-4% per year.
- - Read this at SGinvestors.io -
- Keppel DC REIT provides stable cash flows due to its long portfolio WALE weighted by lettable area of 6.4 years.
Preparing for the worst in China.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-07-29
Read also UOB's most recent report:
2024-11-20 Keppel DC REIT - Rebalancing To Benefit From AI Tailwind While Deleveraging.
Previous report by UOB:
2024-10-21 Keppel DC REIT 3Q24 - Positive Momentum To Sustain Into 4Q24 & 2025.
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
