- 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 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/ 2024-10-21
Read also UOB's most recent report:
2024-11-20 Keppel DC REIT - Rebalancing To Benefit From AI Tailwind While Deleveraging.
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
