Keppel DC REIT (KDCREIT)

Keppel DC REIT 3QFY2024 DPU up 6.1% q-o-q to 2.501 cents - THE EDGE SINGAPORE

Results

Keppel DC REIT 3QFY2024 DPU up 6.1% q-o-q to 2.501 cents

Net property income of $64.5 million for the quarter is 4.6% higher q-o-q but 0.2% lower y-o-y, a result of property expenses more than doubling y-o-y to $12.5 million during the quarter.
Analysts mixed on Keppel DC REIT as they await portfolio rebalancing opportunities and Guangdong DC rental collection - THE EDGE SINGAPORE

Broker's Calls

Analysts mixed on Keppel DC REIT as they await portfolio rebalancing opportunities and Guangdong DC rental collection

CGS keeps its “hold”, while DBS and PhillipCapital keep their “buy” and “accumulate” calls.

Broker's Calls

Strength in Singapore's data centre colocation market has analysts positive on Keppel DC REIT

Citi and DBS both keep “buy” calls with target prices of $1.91 and $2.20 respectively.

Results

Keppel DC REIT reports DPU of 4.549 cents for 1HFY2024, y-o-y decrease but h-o-h increase

Lower y-o-y DPU is from loss allowance for Guangdong DCs, higher finance costs and depreciation of foreign currencies against SGD.

Broker's Calls

Analysts mixed on Keppel DC REIT after Japan data centre acquisition

UOB Kay Hian is keeping its “hold call” while Citi keeps its “buy” call.
Mapletree Logistics Trust logged highest retail net inflows among S-REITs in 1Q2024 - THE EDGE SINGAPORE

REITs

Mapletree Logistics Trust logged highest retail net inflows among S-REITs in 1Q2024

MPACT and Keppel DC REIT, at second and third place, were neck and neck at $54.6 million and $54.3 million respectively.

Broker's Calls

Citi lowers Keppel DC REIT’s TP to $2.18 after the REIT’s LOD to Guangdong DCs

Citi's Lee has also cut his DPU estimates for FY2023, FY2024 and FY2025 by 1.6%, 8.3% and 8.3% .
Keppel DC REIT prices $90 mil floating rate notes due 2026 - THE EDGE SINGAPORE

Company in the news

Keppel DC REIT prices $90 mil floating rate notes due 2026

The notes bear interest at a floating rate based on the compounded daily SORA plus an agreed spread, payable in quarterly arrears.
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