Keppel DC REIT

Keppel DC REIT launches equity fund raising to raise $473.8 mil for new acquisitions

SINGAPORE (Sept 16): Keppel DC REIT has announced an equity fund raising exercise to raise gross proceeds of $473.8 million to help fund its recently proposed acquisitions of two data centres

In an SGX filing on Monday before market open, the manager of Keppel DC REIT says the proposed equity fund raising will comprise a private placement and a pro rata and non-renounceable preferential offering.

Keppel DC REIT to be included in FTSE EPRA/NAREIT Global Developed Index from Sept 23

SINGAPORE (Sept 11): Keppel DC REIT is set to join the FTSE EPRA/NAREIT Global Real Estate Index Series (Global Developed Index) with effect from September 23.

The FTSE EPRA / NAREIT Global Real Estate Index Series is an international real estate investment index developed by FTSE Group in cooperation with the European Public Real Estate Association (EPRA) and the National Association of Real Estate Investment Trusts (NAREIT).

Keppel DC REIT brimming with growth opportunities, but vulnerable to competition: DBS

SINGAPORE (Jan 23): DBS Vickers Securities is maintaining “buy” on Keppel DC REIT (KDC REIT) while raising its target price from $1.52 to $1.60, which is the highest on the street, after the REIT’s 4Q18 results came in line with the research house’s expectations.

Keppel DC REIT's 4Q DPU grows 5.7% to 1.85 cents on higher income

SINGAPORE (Jan 22): The manager of Keppel DC REIT announced a DPU of 1.85 cents for 4Q18, up 5.7% y-o-y from 1.75 cents on the back of higher gross rental income and other income.  

This brings the REIT’s full year DPU to 7.32 cents, which is 5% higher than its FY17 DPU of 6.97 cents.

Gross revenue for the quarter grew 30.5% to $48 million from $36.8 million in 4Q17, driven by a 27.9% growth in gross rental income to $44.7 million after factoring in the REIT’s acquisitions of KDC SGP 5 and maincubes DC.

Go for lower beta, dividend-paying stocks this year after a disappointing 2018: Phillip

SINGAPORE (Jan 4): Phillip Capital is maintaining its Straits Times Index (STI) target of 3,400 in Oct 2019 – which pegs the market at 13.5 times, or around its ten-year average valuation – as the research house advocates a lower-beta equity portfolio for the year, with an emphasis on dividend-paying stocks.

In a Friday report, head of research Paul Chew opines that the Singapore market is currently cheap on a historical basis, as the STI currently trades at 1 SD of its 10-year historical valuations on a forward P/E of 12 times, or P/B of 1 times.

Keppel DC REIT to build Sydney data centre in Macquarie Business Park

SINGAPORE (Aug 7): The manager of Keppel DC REIT (KDC REIT) intends to build a new shell and core data centre on vacant land within the Macquarie Business Park precinct in Sydney, Australia, as an expansion of the Macquarie Telecom data centre campus.

The expansion will be named Intellicentre 3 East Data Centre (ID3 East DC) when completed sometime between 2019 and 2020, will feature at least 86,000 sq ft of lettable area.

Growth potential & good fundamentals keep Keppel DC REIT at 'buy'

SINGAPORE (July 18): DBS Vickers Securities and CGS-CIMB Research are maintaining their respective “buy” and “add” calls on Keppel DC REIT with target prices of $1.52 and $1.49, after the REIT’s 2Q results came in line with both research houses’ expectations.

Keppel DC REIT declares 4.6% higher 2Q DPU of 1.82 cents

SINGAPORE (July 17): The manager of Keppel DC REIT has declared a DPU of 1.82 cents for 2Q18, up 4.6% from 1.74 cents in 2Q17.

For the half-year ended June, DPU was 3.62 cents, which was 4% higher than 1H17’s adjusted DPU of 3.48 cents if the one-off capital distribution arising from Keppel DC Singapore 3’s acquisition in 1Q17 was excluded.

Gross revenue for 2Q18 grew 21.5% to $41.9 million from $34.5 million a year ago.

Analysts positive on Keppel DC REIT's latest acquisition, but divided over risks

SINGAPORE (May 8): OCBC Investment Research and Phillip Capital are upgrading their calls on Keppel DC REIT (KDC REIT) to “buy” and "accumulate" with a fair value and target price of $1.54 and $1.51, respectively, following news of the REIT’s acquisition of Kingsland Data Centre for $141.2 million.

Meanwhile, CGS-CIMB Securities maintains its “add” call on the trust with a higher target price of $1.49 compared to $1.47 previously.

Keppel DC REIT acquires Kingsland Data Centre

SINGAPORE (May 7): The manager of Keppel DC REIT is acquiring a 99% interest in Kingsland Data Centre for a cash consideration of $141.2 million from seller Kingsland Development and Nylect Holdings.

The consideration is derived from $295.1 million, being 99% of the value of the property, less $153.9 million, being the adjustments for the 99% of the target’s net liabilities.

Kingsland will retain the remaining 1% of the data centre.

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