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Keppel DC Reit posts 13.6% rise in H1 DPU
KEPPEL Data Centre (DC) Reit on Tuesday posted a distribution per unit (DPU) of 4.375 Singapore cents for the half-year ended June 30, up 13.6 per cent from 3.85 cents a year ago.
Distributable income rose 38 per cent to S$75 million, largely driven by the acquisitions of Keppel DC Singapore 4 (KDC SGP 4) and DC1 Singapore data centres in Q4 2019. Keppel DC Reit had raised S$478.2 million in September last year through a private placement and preferential offering to partially fund the acquisitions.
Net property income was 32.1 per cent higher at S$114.2 million, while gross revenue increased 29.8 per cent to S$124 million.
Gross rental income grew 31.7 per cent to S$120 million due to the acquisitions of KDC SGP 4 and DC1, as well as Kelsterbach Data Centre in Germany, completed on May 1, 2020.
Portfolio occupancy was 96.1 per cent as at June 30, 2020, with a weighted average lease expiry (WALE) of 7.4 years.
Following the completion of the acquisitions of Kelsterbach DC and the remaining 999‐ year leasehold land interest at Keppel DC Dublin 1 in H1, the Reit&rsquo s assets under management as at June 30, 2020 was increased to S$2.8 billion.
The Reit has 2.6 per cent of total net lettable area (NLA) up for renewal in the second half of 2020. The manager has started engaging clients for early renewals and lowered the total NLA due for expiry in 2021 from 10.7 per cent as at end‐ 2019 to 6.2 per cent as at June 30, 2020.
Net asset value per unit stood at S$1.17 as at June 30, 2020, up from S$1.14 as at end-Dec.
The Reit&rsquo s average cost of debt was at 1.7 per cent per annum, and its interest coverage ratio was at 12.8 times as at June 30. Aggregate leverage was 34.5 per cent as at June 30, up from 30.7 per cent as at end-December.
Asset-enhancements works at Keppel DC Dublin 1 have resumed following the two-month lockdown by the Irish government, and are expected to be completed in H2. Additional space at Keppel DC Dublin 2 is currently being converted into a data hall, to be completed in H1 2021.
In Singapore, the additional power capacity at Keppel DC Singapore 5 has been fully committed by an existing client in the facility. Asset enhancement works at Keppel DC Singapore 5 and DC1 remain suspended.
The manager said prospects for the data centre market remain robust, underpinned by strong digital trends such as rapid cloud adoption, smart technologies, big-data analytics and 5G deployment.
It noted that the widespread lockdowns due to the pandemic have accelerated the adoption of technology. " The data-centre industry remains resilient, supporting data storage and processing requirements of the digital economy," said the manager.
Unitholders can expect distributions to be paid on Sept 1, 2020.
Door closing soon.
Chiong up le.
Chiong up le.
thxs. Just too bad that the price is kinda too high.
tcshares ( Date: 23-Jan-2019 18:33) Posted:
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yes
Is this trust worth to invest in? Any advises?
Keppel DC REIT is included in Shariah Index.
http://mystocksinvesting.com/singapore-reits/shariah-reit/shariah-compliant-singapore-reit-for-muslim-investors/
http://mystocksinvesting.com/singapore-reits/shariah-reit/shariah-compliant-singapore-reit-for-muslim-investors/
Keppel DC REIT is one of the over value Singapore REIT.
http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-5-february-2017/
http://internetfileserver.phillip.com.sg/POEMS/Stocks/Research/ResearchCoverage/SG/KDCREIT20170124.pdf
Recommendation: Neutral (Downgraded), Last Close Price: S$1.215
Target Price: S$1.15 (previous: $1.26), Analyst: Richard Leow
- FY16 Gross revenue of S$99.14mn in line with our forecast of S$98.95mn and missed consensus expectation of S$104.1mn by 4.8%
- FY16 DPU of 6.14 cents missed our forecast of 7.00 cents by 12% and missed consensus expectation of 6.60 cents by 7.0%
- DPU of 2.80 cents declared for 2HFY16 (2HFY15: 3.28 cents)
Keppel DC REIT& rsquo s acquisition to power earnings going forward.....
Overall full year still better ....and its due to the acquisition .....will power its earning moving into 2017. A good yield counter as data centre is on growth path.
pnuklis ( Date: 24-Jan-2017 09:16) Posted:
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Poor results and 0.0123 dividend. Looks to be shorted today?
Two bearish engulfing patterns side-by-side means very bearish, could re-test 1.16 level soon. Caveat.
More likely one of the broking hse...pushing it down to accumulate....normal
Result on 23rd Jan . Vested
grandjedi ( Date: 11-Jan-2017 12:31) Posted:
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What' s the reason for 3% drop today?
Why are shortists so active today? What is the bad news????????????????????????
Keppel DC REIT&rsquo s acquisition to power earnings going forward
By:
Benjamin Cher
SINGAPORE (Nov 29): DBS Vickers Securities is maintaining its &ldquo buy&rdquo call on Keppel DC REIT with a revised target price of $1.33, after rolling forward valuations and pricing in the recently-announced acquisition of Keppel DC Singapore 3 (KDC SG 3), a carrier-neutral data centre in Singapore formerly known as T27 or Keppel Datahub 2.
To recap, Keppel Data Centres Holding (KDCH) &ndash a joint venture between Keppel Telecommunications & Transportation (Keppel T& T) and Keppel Land &ndash in October announced the divestment of 90% of KDC SGP 3 to Keppel DC REIT via share sale for an aggregate consideration of $141 million.
In a Tuesday report, analysts Derek Tan and Mervyn Song say the acquisition of KDC SG 3 will further diversify the REIT&rsquo s earnings base as well as fuel a stronger earnings growth trajectory of 5% going forward.
According to the analysts, the $279.5 million in new equity raised to fund the deal has improved Keppel DC REIT&rsquo s liquidity and strengthened its balance sheet, positioning the REIT &ldquo for another year of strong growth driven from acquisitions&rdquo .
Further upside to the deal will come from the management&rsquo s ability to garner tax transparency status, they add.
In Tan and Song&rsquo s opinion, the REIT is &ldquo projected to deliver a solid 5% CAGR in distributions supported by positive market dynamics&rdquo , and this is supported by low gearing coupled with low cost of capital which empower the REIT with financial capacity to acquire accretive assets.
&ldquo Given the larger-than-anticipated fund raising coupled with capital committed to acquire two further data centres worth a collective $111.7 million, we project KDC REIT&rsquo s gearing to remain fairly conservative at c.29%, keeping the powder dry for the REIT to acquire more assets,&rdquo say the analysts.
Units of Keppel DC REIT closed at $1.20.
Sorry, typo error in immediate previous note, meant to say : 1.155 level. As said back then, the price has bounced back as of today !!
Bro,.. it' s okay, the price will bounce back up. Retreating to 1.55 and thereabout is just a natural reaction,... it WILL bounce back up !
pnuklis ( Date: 15-Nov-2016 09:43) Posted:
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knee jerk dilution reaction is quite strong and has pulled down more than expected. If the stock price is around 1.15 what was the point in taking up the so called preferential rights at 1.155? Do not see the logic! Is this stock really going to benifit from the Government data collection efforts in 2017 and 2017?? Not much coming out from the management! What is the future for this stock?
With the drop,... I' ve decided to buy-in at 1.155. I am ' lucky' , I sold off at 1.195 in July, just before the Rights Issue, and did not need to go thorugh the RI. Now that the RI is over, I am able to buy in again below my earlier Sell Price of 1.195. Wonder if this is the right way to look at this,... guys ??
Hmm,... even if opening is at 1.15, with a 1H2016 dpu of 3.36 Cts ANNUALISED to 6.72 Cts, the yield is ONLY 5.84% ......... again ONLY !!!!! Not that attractive ! What do you think ? Furthermore, they have started to do cashcalls too,....
ysh2006 ( Date: 12-Nov-2016 08:09) Posted:
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