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Keppel Reit posts H1 DPU of 2.94 cents, up 5%
KEPPEL Reit Keppel Reit eported a distribution per unit (DPU) of 2.94 Singapore cents for the first-half ended June 30, up 5 per cent from 2.8 cents a year ago.
DPU comprised 2 cents, which will be paid on Aug 27, and advanced DPU of 0.94 cent that was paid on March 31 in connection with the private placement that was launched on Feb 18.
Distributable income increased 11.5 per cent to S$105.7 million, which the manager attributed mainly to contributions from Victoria Police Centre in Melbourne, Pinnacle Office Park in Sydney and Keppel Bay Tower in Singapore, as well as higher one-off income.
However, this was partially offset by the impact of lower portfolio occupancy.
Net property income attributable to unitholders rose 50.3 per cent to S$76 million during the half-year.
As at June 30, the Reit' s portfolio had a committed occupancy of 96.7 per cent portfolio and top 10 tenants' weighted average lease expiry (WALE) were 6.2 years and 11.2 years respectively. The Reit had a tenant retention rate of 60 per cent during the half-year.
On the leasing front, a total of 721,500 square feet (sq ft), with an attributable area of about 319,000 sq ft, was committed in H1.
The majority of the leases concluded were in Singapore and the average signing rent for the Singapore office leases was S$10.73 per sq ft per month.
The Reit' s " portfolio optimisation strategy" during the half-year included the acquisition of Keppel Bay Tower in Singapore, which augments the Reit' s green footprint, and the divestment of a 50 per cent interest in 275 George Street in Brisbane, which unlocked value from the Reit' s first Australian asset.
The adjusted consideration for the Australian assets of A$264 million (S$264.16 million) is 7.8 per cent above the last valuation and 59 per cent above the original purchase price.
Aggregate leverage stood at 38.9 per cent after loans were drawn to partially fund the acquisition of Keppel Bay Tower. Weighted average term to maturity of borrowings as at June 30 was 3.1 years 68 per cent of Keppel Reit' s total borrowings are at fixed rates.
All-in interest rate as at June 30 was reduced to 1.97 per cent per annum compared to 2.48 per cent per annum a year ago. Interest coverage ratio improved year on year from 3.1 times to 4.0 times.
The manager said it has obtained loan facilities to refinance all outstanding loans maturing this year.
Sorry, people! Due to copyright claim by UOB for the YouTube video clip of their AGM 2021, all other AGM YouTube videos have been earmarked for deletion.
whenissued ( Date: 23-Apr-2021 12:25) Posted:
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For those who missed this year' s (2021) online web-based Annual General Meering, here is the YouTube link:
https://youtu.be/KM4YK62cr44
Enjoy!
https://youtu.be/KM4YK62cr44
Enjoy!
looks like good price to enter.
Keppel is being sold downwards. Anything below 90cts, will start buying in
Looks like it on technical uptrend
Keppel REIT yield at 6.08%
http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-8august-2016/
isnt the stock in bullish trend?
ecekca ( Date: 19-Jul-2016 20:24) Posted:
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2% rental reversion shows how tough the market is now..
so i assume that they expect markets to be bad, that why they decide to rent out first instead of having empty units..
InvestNotTrade ( Date: 19-Jul-2016 20:37) Posted:
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so weird that their price per sqf is higher than average, renewed almost all of the expiring leases, positive rent reversal BUT still lower DPU.
Since these underlying factors did not contribute to DPU gains, guess the lower DPU was accompanied by lower gearing...?
agreed
stock on downtrend.. expects to head south..
Lepin888 ( Date: 19-Jul-2016 20:13) Posted:
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Dpu down for last quarter..will get worse as office oversupply hit home
result not good.
DPU declined and yield around 5.96%. trading x now
brchkho1 ( Date: 12-Jul-2016 13:56) Posted:
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Ha Ha....... Finally Keppel Reit is in the lime light. It' s one of the best S-Reits outperform MSXI World Reit Index. If I recall correctly, analyists are not giving good review in view of potential over supply of prime office. Not sure what was in the minds of these analyists. the prices are inching up slowly.
looks like on a downtrend..if it continue
once mid term breaks, it will drop even more
going to break midtrend soon...
short term still on downtrend
Not easy to find buyers..
Currently only the qatari fund big buyers
Previously blackrock wanted to sell the asia square at more than 4billion, only managed to sell at 3.4billion..imagine that.
ehclim ( Date: 18-May-2016 10:22) Posted:
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Some of their assets appreciated more than 200% likes Bugis Junction Tower. I proposed to the management to sell the asset to pay debts so as to reduce the gearing during the last AGM. I think they are unable to find for potential buyer.
ehclim ( Date: 18-May-2016 10:19) Posted:
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I am not sure but I don' t so. Their debts are high too. Gearing is about 40%.
ecekca ( Date: 18-May-2016 08:42) Posted:
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good qn, what is REIT best measure for performance..hmm
maybe DPU growth YOY
InvestNotTrade ( Date: 16-May-2016 23:16) Posted:
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