Equity Analysis /
Singapore

SG : Keppel DC REIT - DPU growth against the odds

    Munyee Lock
    Munyee Lock

    Head of Regional Property

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    CGS-CIMB
    26 July 2022
    Published byCGS-CIMB

    KDC’s 1HFY22 DPU of 5.049 Scts (+2.5% yoy) was in line at 49.7% of our FY22F. Portfolio metrics remain robust; only 2% of leases to be de-risked for 2H22. Reiterate Add with an unchanged DDM-based TP of S$2.63.