Data from Keppel DC REIT’s latest disclosure is in the Singapore REITs table.

Keppel DC REIT has reported gross revenue of SGD70.676 million for its 3Q 2023.

This is an increase of 0.5% from the corresponding period of 2022.

Likewise, the REIT’s net property income (NPI) grew by about 0.8% over the same period to SGD 64.585 million.

The REIT has attributed the increases in gross revenue and net property income to contributions from acquisitions, and overall positive income reversions and income escalations.

However, the REIT’s distributable income for 3Q 2023 fell by 6.5% to SGD43.876 million.

And as a result, its distribution per unit slid by 3.6% to 2.492 cents.

Keppel DC REIT pointed to higher finance costs, increased facilities expenses including electricity costs, and less favourable forex hedges as reasons for the decline.

Keppel DC REIT was last done on the Singapore Exchange at SGD2.01, which presently implies a distribution yield of 4.82% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

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