0151 GMT - Keppel DC REIT seems set for another year of dividend growth this year, which should be enough to offset near-term headwinds like rising energy costs, CGS-CIMB analysts Lock Mun Yee and Natalie Ong say in a note. Demand for the Singapore-based trust's data centers appears to be holding up well, the analysts say. Keppel DC REIT's average cost of debt was 2.2% in 2022, which is on the low side among its REIT peers and shows that its balance sheet is likely to remain healthy, CGS-CIMB says. The brokerage raises its target price on the trust to S$2.39 from S$2.12 and maintains an add rating. Units rise 1.4% to S$2.14. (yiwei.wong@wsj.com)
(END) Dow Jones Newswires
February 01, 2023 20:52 ET (01:52 GMT)
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