Earnings season rewards the prepared. Know what a company left unresolved last quarter, and you read the next release faster than the investor starting cold. Three Singapore REITs report on 23 July. Each carries a thread from its previous period. The next set of numbers will extend it or break it. Here is what to watch.

Keppel DC REIT: Can the Momentum Keep Its Pace?

Keppel DC REIT (SGX: AJBU) owns 25 data centres across 10 countries, with assets under management (AUM) of around S$6.3 billion. Its last set of numbers ran hot. Distributable income rose 20.7% year on year (YoY) to S$74.6 million. Distribution per unit (DPU) reached S$0.02833, up 13.2% compared to a year ago. One figure stood out. Rental reversion hit roughly 51% on contracts renewed during the quarter, an unusually high figure.. A single quarter rarely sets a run rate. So the question for 23 July is whether reversions stay elevated as more leases come up...