- Keppel DC REIT's FY24 DPU of 9.451 Singapore cents (+0.7% y-o-y) met our FY24e expectations. This was driven by the distribution of the DXC settlement sum of S$11.2mil, exceptionally strong positive portfolio rental reversions of 39% in FY24, and the contribution from the acquisition of Tokyo DC 1. However, it was partially offset by loss allowances for the Guangdong DCs and the depreciation of foreign currencies against the S$.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- We lower our FY25e DPU estimates by 4% as we roll forward our forecasts, incorporating recent acquisitions, the expanded share base from the equity fund raising, and the continued non-collection of rental income from the Guangdong DCs. Keppel DC REIT's share price is currently trading at an FY25e DPU yield of 4.5%.
FY24 Results - The Positives
Maintained high portfolio occupancy of 97.2%.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Darren Chan Phillip Securities Research | https://www.poems.com.sg/ 2025-01-27
Previous report by Phillip:
2024-11-25 Keppel DC REIT - Acquisition Of Keppel DC Singapore 7 & 8.
Price targets by 4 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
