Keppel REIT - 3Q21 Active Leasing, But Reversions Slowed
- Keppel REIT (SGX:K71U) reported higher 3Q21 revenue and distributable income from operations y-o-y due to new acquisitions.
- Portfolio committed occupancy improved slightly q-o-q to 97.1% at end-3Q21.
- We expect the positive rental reversions to continue, but also see possible drag from potential frictional vacancy.
- Reiterate Add call on Keppel REIT with an unchanged DDM-based target price of S$1.29.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | EING Kar Mei CFA CGS-CIMB Research | https://www.cgs-cimb.com 2021-10-26 2021-10-26
Read also CGS-CIMB's most recent report:
2022-10-25 Keppel REIT - Dishing Out An Anniversary Distribution.
Previous report by CGS-CIMB:
2022-07-27 Keppel REIT - Outlook Remains Positive.