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Keppel DC Reit's Q4 DPU beats forecast by 1.9%

KEPPEL DC Reit reported a distribution per unit (DPU) of 1.64 Singapore cents for the fourth quarter ended Dec 31, 2015, marginally beating its own forecast by 1.9 per cent.

This came on the back of a net property income (NPI) of S$21.85 million, which also surpassed its forecast by 1.9 per cent.

The Reit manager attributed the better-than-expected NPI to rental contribution from Intellicentre 2 and the lower-than-expected property expenses.

For the financial period of 385 days from the listing date of Dec 12, 2014 to Dec 31, 2015, Keppel DC Reit's DPU of 6.84 cents also surpassed its forecast by 1.9 per cent. This translates to an annualised yield of 6.97 per cent based on IPO offer price.

Keppel DC Reit was listed with a portfolio of real estate assets mainly used for data centre purposes, with an initial focus on the Asia-Pacific and Europe.

As at Dec 31, 2015, its S$1.1 billion portfolio comprises nine data centres in Singapore, Australia, Ireland, Malaysia, the Netherlands and England.

The payment date for the distribution per unit of 1.55 cents in taxable income and 1.73 cents in tax-exempt income for the period from July 1 to Dec 31, 2015 is Feb 29.

Units of Keppel DC Reit closed 0.5 per cent lower at S$1.01 on Thursday.