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Keppel DC Reit
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Lobster
Elite |
25-Jan-2022 11:00
Yells: "Even Adam Khoo believes in the Black Market!" |
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This interest rates have been overplayed. Most REITs would have already locked in their loans rates. It' s the new acquisitions that will face such impact. And currently, It' s just not the REITS but the whole market reacting to what' s is happening or will be happening to the US markets. But one thing which I haven' t get some coffee shop stories is when the moratorium was imposed the price started to slide. And now news of a impending lifting of the moratorium the price gostang instead. It cannot be the results. It was better than 2020 and 2019 even. | ||||
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lennyk
Member |
25-Jan-2022 10:38
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Thank you for your advise will maybe look to pare down the my exposure when there is a slight bump with dividends will wait and wath till 1-2 interest rate hikes occur. these are real companies making real profits and paying out good dividends hate to see US market ghost companies trade at high valuations and even when there is a crash it goes down 5-10 % --> but if you look over the year all the stocks have actually gone up 10-30% in the last 1 year - despite the crashes in between whereas except for Banks all of SG stocks are more or less there in the last 1 year it will drop with the US market but not rise when the US market rises SAD
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Joelton
Supreme |
25-Jan-2022 10:15
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Keppel DC Reit H2 DPU up 2.8% to S$0.04927 potential lifting of moratorium &lsquo not a concern&rsquo
THE manager of Keppel DC Reit Keppel DC Reit: AJBU -0.44% has brushed aside concerns over the potential impact of new supply of data centres in Singapore, as the government mulls the lifting of a moratorium on the development of new data centres facilities that has been in place since 2019.
&ldquo Even if the data centre moratorium is lifted today, the new data centres will take some time to be built. And there may be more rules and regulations imposed to make sure that they are also in line with the sustainability efforts that the government is pushing forward,&rdquo said chief executive officer of Keppel DC Reit manager Anthea Lee in a briefing following the release of its FY2021 results on Monday (Jan 24).
&ldquo We were listed in 2014. At that point in time, there was no government moratorium (and) it was not a concern for us. Even now, it wouldn&rsquo t be a concern,&rdquo she added. &ldquo I will not see the government moratorium as a concern for (Keppel DC Reit&rsquo s) unitholders.&rdquo
For the second half of the fiscal year ended Dec 31, 2021, Keppel DC Reit reported a distribution per unit (DPU) of S$0.04927, up 2.8 per cent from DPU of S$0.04795 in the corresponding year-ago period.
This brought the company' s DPU for the full FY2021 to S$0.09851, up 7.4 per cent from S$0.09170 in FY2020.
Distributable income for H2 FY2021 rose 6.6 per cent to S$87.4 million from S$81.9 million in the year-ago period. For the full FY2021, distributable income was up 9.4 per cent year on year to S$171.6 million.
Keppel DC Reit attributed the growth to contributions from new acquisitions, including Kelsterbach Data Centre in Germany in May 2020, Amsterdam Data Centre in December 2020 and Eindhoven Campus in September last year.
Chief financial officer of the Reit manager Adam Lee noted that Keppel DC Reit has an aggregate leverage of 34.6 per cent as at Dec 31, 2021.
&ldquo This translates into debt headroom of S$334 million before we reach our internal cap at the 40 per cent level and S$1.1 billion to the 50 per cent regulatory limit,&rdquo he said. He added that Keppel DC Reit is looking to keep its gearing at 30-40 per cent.
Approximately 74 per cent of its borrowings have been hedged through floating-to-fixed interest rate swaps, with the remaining unhedged borrowings in euros.
&ldquo The sponsor has quite a number of assets under development and management,&rdquo Lee said. &ldquo We will explore with them whenever they are ready, but we will not wait for the sponsor&rsquo s pipeline &hellip (As) we have demonstrated in 2021, we' ve been very active in looking for opportunities from third parties.&rdquo
Other contributing factors to the improved performance were the completion of Intellicentre 3 East Data Centre development, and asset enhancement initiatives (AEIs) at data centres in Dublin and Singapore in Q1 2021.
These value-creation initiatives, combined with portfolio valuation uplifts, saw the Reit' s assets under management (AUM) grow to S$3.4 billion as at the end of FY2021, up from S$3.0 billion at the end of FY2020.
Net property income for H2 was down 4.3 per cent to S$124.3 million from S$129.9 million in the year-ago period.
Gross rental income was down 2.7 per cent to S$134.3 million due primarily to lower rental non-cash income adjustment on a straight-lining basis, cessation of excess rent paid to the vendor at Kelsterbach DC, as well as the absence of one-off revenue and expenses reduction from the Singapore co-location, among other factors.
CFO Lee explained that the one-off items contributed to a &ldquo substantial decline&rdquo in revenue, but did not affect distributable income and DPU, which continued to see increases.
Meanwhile, the revenue decline was partially offset by AEI contributions from the Dublin and Singapore assets, full half-year contribution from Amsterdam DC as well as acquisitions of Eindhoven DC and Guangdong DC.
Property expenses for H2 came in at S$11.6 million, down 0.6 per cent from S$11.7 million in the year-ago period.
As at end-2021, Keppel DC Reit' s portfolio occupancy stood at 98.3 per cent, with a weighted average lease expiry of 7.5 years by leased area.
Meanwhile, the Reit' s aggregate leverage was 34.6 per cent, and approximately 74 per cent of its borrowings have been hedged through floating-to-fixed interest rate swaps, with the remaining unhedged borrowings in Euro.
Looking ahead, Keppel DC Reit said it is well-positioned to benefit from positive industry trends, and that it will leverage the " Keppel ecosystem" in providing end to-end solutions from project development to facilities management and innovative carbon reduction solutions to grow sustainably.
The Reit manager noted that Keppel DC Reit' s sponsor Keppel' s private data centre fund have more than S$2 billion in assets under management and development. Keppel DC Reit may also look to potentially acquire these assets if it is beneficial to unitholders, added the manager.
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FATABA
Supreme |
25-Jan-2022 09:42
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Interest rate is known to rise .....but the FULL impact of interest rate rise over the next yr or more is NOT factor into the reit market yet ( just my view) I dont think reit sector can absorb all this and pay out the high DPU over the next few years. Added, reit business are dependant on rental is going to be hit w C19 more where travel and other restriction are not returning back to normal fully . Be extra careful on this class of investment ( maybe it is time for a major correction on this .) DYODD DYODD |
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lennyk
Member |
25-Jan-2022 09:28
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Relentless selling i cant understand whats going on result was fine interest rate increase is known to be on the cards - but most reits have hedged loans and the impact may be max 5-10% of DPU how come the reits are down by so much i have was overweight on reits hoping that the results season will lift the reit prices now i am considering cutting losses soon and invest in other asset classes any suggestions |
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Lobster
Elite |
24-Jan-2022 17:52
Yells: "Even Adam Khoo believes in the Black Market!" |
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Wow, really very few interests...remember this results will give an indication of KC results to come..... for those very few who are interested. here for you to digest... last FY 20 total payout is $0.0917 this FY 21 total payout is $0.09851 so, considering we have ALREADY received 0.06345, so this quarter we will be getting (about) = $0.03506
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Lobster
Elite |
24-Jan-2022 17:40
Yells: "Even Adam Khoo believes in the Black Market!" |
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NOT BAD!!
Keppel DC REIT achieves 7.4% y-o-y growth in DPU for FY 2021
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Lobster
Elite |
23-Jan-2022 11:22
Yells: "Even Adam Khoo believes in the Black Market!" |
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Two not directly related news but still may have eventual impact, directly or indirectly.....
Moratorium on new data centres to be lifted soon operators seek green edge
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Kandee
Senior |
22-Jan-2022 14:48
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Hmm, the timing is a little suspicious as it is just a few days before the results announcement. Most REITs tend to move up after the result and dividend announcement. Do they know something about Keppel DC that we don' t? Anyway, BlackRock is a BB, they might buy and sell for strategic reasons.
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MARKWONG
Senior |
21-Jan-2022 17:52
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Below 5%, means no need to file already when trading, Anyway, US interest hike plan will effect most foreign funds to pull money back. Not just Kepple DC. Most important, Kepple DC needs to have some more solid plan for future growth as SG already full capacity. |
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plutus
Member |
21-Jan-2022 11:34
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Keppel DC REIT and BlackRockBlackRock, via a subsidiary or subsidiaries, disposed of 5,459,800 units of Keppel DC REIT in the market on 18 January for S$12.45 million, taking its deemed interest to 4.76 percent from 5.08 percent previously, according to a filing to SGX Thursday. BlackRock&rsquo s interest in the REIT is held via subsidiaries, the filing said. |
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halleluyah
Supreme |
21-Jan-2022 09:37
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yesterday announcement....blackrock ceased to be ssh....going south liao......dyodd..... | ||||
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Stocky901
Supreme |
12-Jan-2022 11:20
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Energy cost keep surging which can also make operations of data centres very expensive.. 😓 😓 | ||||
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halleluyah
Supreme |
12-Jan-2022 09:04
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cos US expecting 4x interest rate hike which not in favor fr reits as in high debt...
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Jamesbond007
Veteran |
12-Jan-2022 09:02
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Beaten down from $3+ to $2.30. Something has gone wrong? | ||||
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MARKWONG
Senior |
11-Jan-2022 18:13
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A big push at day end by shortiests, ceo sleeping. | ||||
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Lobster
Elite |
31-Dec-2021 15:17
Yells: "Even Adam Khoo believes in the Black Market!" |
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Closed at $2.47. The black market doesn' t talk about a stock for fun. As I said, KC ownself have some data business in its belt. At some point in time, these would be transferred to KDC to strengthen its portfolio, And if KC is able to take over SPH, it will sure to take over its data centre business
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Lobster
Elite |
30-Dec-2021 17:21
Yells: "Even Adam Khoo believes in the Black Market!" |
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Wa, at last one supporter here. If tomorrow showing is good, the real uptrend will start next week. | ||||
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actan99
Master |
30-Dec-2021 16:39
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Slowly go back to uptrend again. | ||||
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Joelton
Supreme |
28-Dec-2021 09:13
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Keppel DC Reit to acquire second data centre in London for $105.5 million
Keppel DC Reit is acquiring a data centre in Bracknell, which is part of the Greater London urban area, for £ 57 million (S$105.5 million).
The property, which will be named " London Data Centre" , is the real estate investment trust' s (Reit) second acquisition of a data centre in Greater London, and its third in Britain, its manager said on Monday (Dec 27).
The Reit' s manager expects the acquisition will be accretive to the Reit' s distribution per unit, although it did not specify by how much. It noted, however, that the property will increase the weighted average lease expiry of the Reit' s portfolio lease profile to 8.1 years from 7.1 years.
Bracknell is a commercial centre in the Thames Valley, a region known as the Silicon Valley of Britain due to its large concentration of multinational technology companies and conglomerates, the manager said.
The acquisition, which is expected to be completed in the first quarter of 2022, will be funded by proceeds from the Reit' s recent placement and external financing. Post completion, Keppel DC Reit' s aggregate leverage is expected to increase to 38.2 per cent from 36.4 per cent, as at Sept 30, 2021.
London Data Centre is currently fully leased to a telco company until 2039. It sits on a 1.9ha plot of freehold land, has a gross floor space of 94,867 square feet, and consists of three interlinked two-storey buildings that house data centre space along with ancillary office space.
The property has been valued by an independent valuation company at £ 57 million.
With the acquisition of London Data Centre, the Reit will have a total of 21 data centres in the Asia Pacific and Europe.
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