Keppel DC REIT's Improving Rentals May Offset Higher Financing Costs -- Market Talk

Dow Jones04-19

0341 GMT - Rising rents from Keppel DC REIT properties could help balance the impact of higher financing costs and less favorable forex hedges this year, DBS Group Research says in a note. But they note that concerns about missing rental payments from its tenant Bluesea Data Development's leases at its Guangdong data centers pose a "significant overhang," though the settlement of S$11.2 million from its dispute with DXC Technology Services offer some relief, DBS adds. DBS's FY 2024 projections has already assumed the absence of income contribution from the Guangdong data centers. "Any positive developments in this regard would be considered an upside to our estimates," DBS says. It maintains a buy rating on the stock with a target price of S$2.20. Shares were at S$1.64.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 18, 2024 23:41 ET (03:41 GMT)

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DBS's FY 2024 projections has already assumed the absence of income contribution from the Guangdong data centers. \"Any positive developments in this regard would be considered an upside to our estimates,\" DBS says. It maintains a buy rating on the stock with a target price of S$2.20. 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But they ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0577902298.EUR","symbol_name":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428505717","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428505717","pubTimestamp":1713498060,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0341 GMT - Rising rents from Keppel DC REIT properties could help balance the impact of higher financing costs and less favorable forex hedges this year, DBS Group Research says in a note. But they note that concerns about missing rental payments from its tenant Bluesea Data Development's leases at its Guangdong data centers pose a \"significant overhang,\" though the settlement of S$11.2 million from its dispute with DXC Technology Services offer some relief, DBS adds. DBS's FY 2024 projections has already assumed the absence of income contribution from the Guangdong data centers. \"Any positive developments in this regard would be considered an upside to our estimates,\" DBS says. It maintains a buy rating on the stock with a target price of S$2.20. 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But they note that concerns about missing rental payments from its tenant Bluesea Data Development's leases at its Guangdong data centers pose a \"significant overhang,\" though the settlement of S$11.2 million from its dispute with DXC Technology Services offer some relief, DBS adds. DBS's FY 2024 projections has already assumed the absence of income contribution from the Guangdong data centers. \"Any positive developments in this regard would be considered an upside to our estimates,\" DBS says. It maintains a buy rating on the stock with a target price of S$2.20. 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