SINGAPORE (Oct 17): CIMB Research is downgrading its call on Keppel DC REIT to “hold” from “add” with a higher target price of $1.37 from $1.36 previously, given the recent uptick in the trust’s unit price.
Keppel DC REIT yesterday posted a 9M17 adjusted distribution per unit (DPU) of 5.22 cents, representing a 4.2% growth from 9M16’s adjusted DPU of 5.01 cents after adjusting for the impact of its pro-preferential offering a one-off net property tax refund in 2016.
