The improvement can be largely attributed to full-quarter contributions from the newly-acquired data centres here, SGP7 and SGP8; the acquisition of Tokyo Data Centre 1, which was completed last July and also contract renewals and rental escalation in 2024.
Keppel DC REIT, along with many other stocks, suffered from a sell-down after universal tariffs were announced on April 2. However, following the REIT's 1QFY2025 business update on April 17, its recovery has been further supported, as analysts maintain their relatively positive views on this counter.
For its 1QFY2025 ended March 31, Keppel DC REIT, reported a 59.4% y-o-y jump in distributable income to $61.8 million, leading to a distribution per unit of 2.503 cents, up 14.2%. The 1QFY2025 growth was in line with the projection of UOB Kay Hian, DBS Group Research and other brokerages.
