Brokers' take
Keppel DC Reit | Buy Target price: S$1.44 Sept 13 close: S$1.29 DBS Group Research, Sept 13
KEPPEL DC Reit will acquire Dataplex, its second co-location data centre in Dublin, Ireland, at an agreed value of 66 million euros (approximately S$101.3 million). The acquired asset, which started operations in 2013, has 25,200 sq ft of NLA, and is located at unit B10 of the Ballycoolin Business and Technology Park in Dublin, about 12 km from the city centre.
We estimate the NPI yield of the new asset to be 7.5 per cent and contributions to be immediately accretive to DPU. FY18F DPU is projected to be lifted by 5.5 per cent to 7.72 Singapore cents, representing a yield of 5.9 per cent based on the current price.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Chevron's quarterly profit beats estimates
EU toughens rules on Chinese fashion retailer Shein
Keppel prices 70 million euros of floating-rate notes due 2031
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%