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Keppel REIT

SGX:K71U
Dividend Yield 6.48%
P/B Ratio 0.64
Aggregate Leverage Ratio 39.4
Occupancy Rate 96.4%
WALE 4.6 year(s)
Interest Coverage Ratio 2.9 times
Fixed Rate Debt 74%
Ex-dividend Date 6 Feb 2024
Record Date 7 Feb 2024
Payout Date 15 Mar 2024
Type Office

Remarks

Keppel REIT's Australian office occupancy rate showed a slight improvement, but it remained relatively lower, hovering around 78-87%. Meanwhile, the occupancy rate in Singapore remains stable and healthy.
David Ang - 23 Apr 2024
There is a 22% refinancing obligation in FY2024 and 21% in FY2025. Should the interest rates remain elevated throughout 2024 and 2025, Keppel REIT's borrowing costs may continue to climb, potentially affecting future DPUs.
David Ang - 23 Apr 2024
After a slight improvement in 2H 2023, this 1Q 2024 result showed a slight deterioration in Keppel REIT's debt profile. The aggregate leverage ratio climbed to 39.4% (from 38.9% previously), and the adjusted ICR declined to 2.9x. Overall, the debt profile is still relatively healthy.
David Ang - 23 Apr 2024
Many of Keppel REIT's portfolio properties in Singapore and Australia are not wholly owned by the REIT. This makes Keppel REIT not having complete control of the properties (if needed).
David Ang - 31 Aug 2023

Geographical Exposure

Singapore 79.3%
Australia 16.5%
South Korea 3.3%
Japan 0.9%

Sectoral Exposure

Office 100%

Dividend Distribution History (DPU)

Debt Maturity Profile

In $ millions
Show debt maturity profile details
Fiscal Year Debt (in $ millions) Percentage
FY24 800 22%
FY25 775 21%
FY26 566 16%
FY27 571 15%
FY28 989 27%
Disclaimer: We do not guarantee the data above is accurate. The information presented here is for general information only. It is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice or recommendation of any sort. Please do your own research before investing.