Keppel DC REIT AJBU

Morningstar Rating
SGD 2.08 +0.01 (0.48%)
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Company Report

Keppel DC REIT's Portfolio of Data Center Assets Benefits From Strong Secular Demand

Keppel DC REIT is a real estate investment trust that principally invests in income-producing real estate assets used primarily for data center purposes and assets necessary to support the digital economy. As a wholesale data center provider, KDC REIT leases out its properties as either a co-location, fully fitted, or shell-and-core data center. Among these three, co-location leases make up the majority of KDC REIT’s rental income but have the shortest weighted average lease expiry profile of less than three years compared with the fully fitted and shell-and-core data centers that enjoy long WALE profiles of around nine and seven years, respectively, as of June 30, 2026.

Price vs Fair Value

AJBU is trading at a LOCK|N&!ml^ premium.
Price
SGD 2.07
Fair Value
LOCK|Y#
Uncertainty
LOCK|&>bB
1-Star Price
LOCK|^mz
5-Star Price
LOCK|t!
Economic Moat
LOCK|jy>b
Capital Allocation
LOCK|H^??kn

Bulls Say, Bears Say

Bulls

Artificial intelligence inference demand grows at a faster-than-expected pace, pushing market rents in supply-constrained markets such as Singapore higher.

Bears

The undisclosed top client renegotiates or downsizes at its next lease event.

Trading Information

Previous Close Price
SGD 2.07
Day Range
SGD 2.05–2.08
52-Week Range
SGD 2.05–2.44
Bid/Ask
SGD 2.07 / SGD 2.08
Shares Outstanding
2.75B
Market Cap
SGD 5.71B
Volume/Avg
2M / 15M

Key Statistics

Price/Earnings (Normalized)
15.96
Price/Sales
10.46
Dividend Yield (Trailing)
3.85%
Dividend Yield (Forward)
3.85%
Dividend Payment Schedule
Mar, Sep
Total Yield
3.85%

Company Profile

Keppel DC REIT is a real estate investment trust that principally invests in real estate assets used primarily for data center purposes and assets necessary to support the digital economy. As at June 30, 2026, it held a SGD 6.3 billion portfolio of 25 properties across 10 countries in Asia and Europe. Internet enterprise and hyperscaler tenants contribute approximately 70% of rental income, with the balance from IT services, telecommunications, financial services and corporate clients. The trust is externally managed by Keppel DC REIT Management Pte. Ltd., a wholly owned Keppel Ltd subsidiary; Keppel Ltd holds a combined 19.3% interest in the trust—17.9% directly and a further 1.4% through the manager.
Sector
Real Estate
Industry
REIT - Office
Stock Style Box
Mid Core
Total Number of Employees
18

Competitors

Valuation

Metric
AJBU
EQIX
ME8U
Price/Earnings (Normalized)
15.9661.3625.65
Price/Book Value
1.206.991.11
Price/Sales
10.4610.258.19
Price/Cash Flow
14.9623.0814.51
Price/Earnings
AJBU
EQIX
ME8U

Financial Strength

Metric
AJBU
EQIX
ME8U
Quick Ratio
1.510.910.19
Current Ratio
1.581.130.19
Interest Coverage
9.513.703.65
Quick Ratio
AJBU
EQIX
ME8U

Profitability

Metric
AJBU
EQIX
ME8U
Return on Assets (Normalized)
7.02%5.31%2.57%
Return on Equity (Normalized)
11.18%14.87%4.41%
Return on Invested Capital (Normalized)
7.90%6.74%3.08%
Return on Assets
AJBU
EQIX
ME8U

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