3 Singapore REITs Reported Their Latest Earnings: Key Takeaways for Investors

Core Insights - The earnings season highlights the diverse performance across Singapore's REIT sector, with data centres showing strong demand while prime offices adapt to changing work trends [1][2] Keppel DC REIT - Keppel DC REIT reported a significant gross revenue increase of 37.7% YoY to S$322.4 million for 9M2025, driven by acquisitions and contract renewals [3] - Distribution per unit (DPU) rose 8.8% YoY to S$0.0767, but adjusted DPU, excluding dilution from capital raising, only increased by 11.7% YoY to S$0.07872 [4] - The portfolio occupancy rate remained healthy at 95.8%, with a weighted average lease expiry (WALE) of 6.7 years, indicating stability [4] - The REIT is actively reshaping its portfolio with new acquisitions and asset enhancement initiatives expected to generate additional income [5] OUE REIT - OUE REIT's revenue fell 5.8% YoY to S$70.5 million for Q3 2025, primarily due to the divestment of Lippo Plaza Shanghai, but like-for-like growth showed resilience with a 1.2% revenue increase [6][7] - The DPU for the first half of 2025 was S$0.010, up 5.4% YoY, while the Singapore office portfolio maintained a committed occupancy of 95.3% [7] - The hospitality segment experienced a revenue per available room decline of 5.7% YoY, but finance costs decreased significantly by 19.7% to S$21.6 million [9] Suntec REIT - Suntec REIT achieved a DPU growth of 12.5% YoY to S$0.018 despite a slight revenue decline of 0.2% to S$117.5 million for Q3 2025, showcasing effective cost management [10][11] - Committed occupancy rates were robust at 98.5% for Singapore offices and 99.3% for retail, indicating strong demand [11] - Positive rental reversion rates of 8.5% for Singapore offices and 8.6% for retail suggest continued pricing power for landlords [12]