KDCREIT secured a major lease renewal with its sponsor, with more than a 40% positive rental reversion, and an overall portfolio occupancy of 97.5% which dipped 80 basis points q-o-q.
Analysts are mixed on Keppel DC REIT (KDC REIT) after it announced its 1HFY2024 results ended March. CGS International (CGSI) and OCBC Investment Research (OIR) have kept their “hold” call with an unchanged target price of $1.99 and $1.97 respectively, DBS Group Research has kept its “buy” call with an unchanged target price of $2.20, and PhillipCapital has kept its “accumulate” call with a higher target price of $1.93 from $1.86 previously.
As a recap, the REIT recorded a 1HFY2024 distribution per unit (DPU) of 4.55 cents, which fell by 9.9% y-o-y but rose 5% h-o-h. Its revenue came in at $157.2 million was 11.7% higher h-o-h and non-property income (NPI) came in at $32.6 million, 12.8% higher h-o-h.
