Keppel DC REIT 3Q24 - UOB Kay Hian 2024-10-21: Positive Momentum To Sustain Into 4Q24 & 2025

• Keppel DC REIT reported DPU of 2.501 cents for 3Q24 (+0.4% y-o-y and +6.1% q-o-q), which we deem slightly above our expectation.

Strong positive reversion from Singapore.

• - Read this at SGinvestors.io -
• Master leases for its fully fitted and shell & core data centres provide built-in rental escalations of 2-4% per year. Portfolio occupancy was stable at 97.6% in 3Q24.
• - Read this at SGinvestors.io -

Benefitting from capital recycling in Australia.

• Keppel DC REIT completed the divestment of Intellicentre Campus in Sydney, Australia for A$174.0m (S$152.1m) on 24 Jun 24. It has re-invested A$90.0m (S$78.7m) of the sale proceeds into Australia Data Centre Note with a yield of 7.0%. Thus, finance income increased 58% y-o-y to S$4.3m.

Maiden foray into Japan.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-04-21 Keppel DC REIT 1Q25 - Contributions From SGP7 & SGP8 Kick In.

Previous report by UOB:
2025-03-20 Keppel DC REIT - Sustainable Growth In Singapore; Green Shoots In China..

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