Keppel DC REIT's property in Tampines, Singapore, known as Keppel DC Singapore 2 (Photo: REITsWeek)

Keppel DC REIT declared DPU of 7.61 cents for FY 2019, 4.0% higher than FY 2018’s 7.32 cents.

Excluding the impact of the pro-rata preferential offering in October 2019, DPU for FY 2019 would have been higher at 7.71 cents, a 5.3% increase from FY 2018’s DPU of 7.32 cents.

The REIT has delivered distributable income of SGD31.5 million for 4Q 2019, 20.4% higher than 4Q 2018’s $26.1 million.

Keppel DC REIT has attributed this mainly to the acquisitions of Keppel DC Singapore 4 and DC1, which were completed in 4Q 2019.

Distributable income for FY 2019 was also higher at SGD113.2 million, an increase of 17.8% from FY 2018’s SGD96.1 million.

This was also supported by the new acquisitions as well as full year contributions from Keppel DC Singapore 5 and maincubes Data Centre in Offenbach am Main, Germany.

As at 31 December 2019, the REIT’s portfolio occupancy rate was at 94.9% with weighted average lease expiry (WALE) of 8.6 years.

The REIT’s leverage for the quarter was at 30.7%.

Keppel DC REIT was last done on the Singapore Exchange (SGX) at SGD2.25.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.