Keppel DC REIT’s (KDC REIT) 20.5% surge in DPU in FY2020 must be the highest DPU growth by an S-REIT. Even then, the 9.17 cents historic DPU, or the 9.59 cents annualised DPU translates into yields of just 3.3%. That has led to some analysts suggesting that KDC REIT’s growth is already baked into its unit price.

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