$Keppel DC Reit(AJBU.SG)
Despite Keppel DC REIT (AJBU) posting impressive 1H DPU numbers, three key factors explain its recent pullback:
• Classic ” Sell the News“: After running up ahead of earnings, short-term money quickly locked in gains post-announcement.
• Earnings Quality Scrutiny: Institutional investors are carefully isolating underlying operational growth from prior one-off gains, questioning margin durability.
• Finance Cost Drag: Finance costs surged over 25% year-on-year, proving that elevated interest rates still squeeze REIT margins.
While long-term AI data center demand remains intact, short-term macro friction and profit-taking are driving this cooling-off period!
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