- Keppel REIT reported an increase in its 1Q26 property income and net property income (NPI) by 14.4% and 9.7% y-o-y to S$78.6m and S$59.9m respectively. NPI attributable to unitholders rose 9.1% y-o-y to S$54.7m.
1Q26 DI rose 17.8% y-o-y to S$62.9m.
- - Read this at SGinvestors.io -
- Borrowing costs increased slightly by 4.2% to S$24.0m, resulting in an overall distributable income (DI) of S$62.9m. This represented an increase of 17.8% y-o-y. If we take into account the number of units outstanding, distribution per unit (DPU) is estimated to be ~1.27 Singapore cents, or 24.1% of our FY26 forecast. We deem this to be slightly below our expectations.
Portfolio rental reversions were strong at 17.2%
- - Read this at SGinvestors.io -
- Average signing rents of S$13.26 per square foot per month (psf pm) were achieved for its Singapore office leases in 1Q26 (FY25: S$12.91 psf pm). This compares favourably to its average expiring rents of S$11.98 psf pm in FY26.
Committed occupancy improved by 0.4ppt q-o-q to 97.1%
- Read more at SGinvestors.io.
