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Keppel DC REIT posts 22.1% rise in DPU to 2.357 cents in 3Q update

Felicia Tan
Felicia Tan • 2 min read
Keppel DC REIT posts 22.1% rise in DPU to 2.357 cents in 3Q update
For the nine-month period, the REIT also saw a 16.5% y-o-y growth in DPU of 6.732 cents.
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The manager of Keppel DC REIT has declared a distribution per unit (DPU) of 2.357 cents for 3QFY2020 ended Sept 30, 22.1% higher than the DPU of 1.930 cents reported in 3QFY2019.

The REIT’s distributable income for the quarter grew 47.6% to $40.5 million from $27.4 million in the year before.

The increase in DPU is primarily supported by new acquisitions by the REIT.

On May 1, 2020, the REIT completed the acquisition of the Kelsterbach Data Centre in Germany. The REIT also completed the acquisition of its 99% interest in Keppel DC Singapore 4.

For the quarter, the REIT reported new take-ups at colocation facilities in Singapore and Dublin, Ireland. It also secured an early lease renewal at iSeek Data Centre in Brisbane, Australia.

Gross revenue for 3QFY2020 increased 46% y-o-y to $67.7 million.

See also: Cordlife posts net loss of $11.57 mil for 1QFY2024 due to refund fulfilment

Accordingly, net property income (NPI) rose 47.6% y-o-y to $62.4 million.

As at Sept 30, the REIT’s portfolio occupancy stood at 96.7% and a long weighted average lease expiry (WALE) of 7.2 years through its proactive leasing efforts during the quarter.

For the nine-month period, the REIT also saw a 16.5% y-o-y growth in DPU of 6.732 cents.

See also: Changi Airport Group reports FY2024 earnings of $431 mil, 13.1 times higher y-o-y

Distributable income for the same period rose 41.2% y-o-y to $115.5 million.

Gross revenue and NPI for the nine months ended Sept 30 increased 35.1% and 37.1% y-o-y to $191.6 million and $176.6 million respectively.

The manager says the REIT is “well-positioned for growth” and that it will continue to “strengthen Keppel DC REIT’s presence and position it to capitalise growth opportunities in the data centre industry”.


See: Keppel DC REIT to be included in STI from Oct 19

Units in Keppel DC REIT closed 7 cents lower or 2.3% down at $2.97 on Oct 20.

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