Broker: OCBC Global Markets
Date of Report: 17 April 2026

Excerpt from OCBC Global Markets report

Report Summary

• Stock Focus: Keppel DC REIT (KDCREIT SP)
• Call to Action: BUY
• Target Price: SGD 2.78
• Key Highlights:
  • 1Q26 distribution per unit (DPU) grew 13.2% year-on-year to 2.833 Singapore cents, slightly ahead of expectations.
  • Strong performance from organic growth and recent acquisitions; portfolio rental reversions robust at ~51% (though from smaller leases).
  • Portfolio occupancy at 95.6%; balance sheet remains strong with an aggregate leverage ratio of 35.1% and industry-leading interest coverage ratio of 7.2x.
  • Management expects full-year average cost of borrowing at 2.6-2.7%.
  • Reiterate BUY rating with an unchanged fair value estimate of SGD 2.78.

above is an excerpt from a report by OCBC Global Markets. Clients of OCBC can be the first to access the full report from the OCBC website : https://www.ocbc.com