Keppel DC REIT (KDC REIT), very much the flavour of 2020, has been somewhat sidelined since April this year. It has also drifted down to a 10-month low, despite 1QFY2021 distributions per unit (DPU) rising by 1.4% y-o-y. Excluding capex reserves that have been set aside, DPU would have risen by 18.1% to 2.462 cents (KDC REIT distributes its DPU half yearly). DBS Bank, which is usually quite positive on REITs, has a hold rating on KDC REIT. Still, the latter’s DPU is likely to be lifted in 2HFY2021 by the completion of the Intellicentre 3 East Data Centre (in image), sited within the Macquarie Business Park precinct in Sydney, in 2Q2021.

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