Keppel Pacific Oak US REIT - Building Resilience During Tough Times

- Keppel Pacific Oak US REIT (SGX:CMOU)'s FY22 headline DPU -8.5% y-o-y to US$0.058, in line with our estimates, mainly due to the conversion of management fees paid in units to cash from 3Q22 onwards. On a like-for-like basis (adjusting FY21), FY22 DPU fell 1% y-o-y. Similarly, 4Q22 estimated DPU fell 3.5% y-o-y and 1.4% q-o-q to US$0.0138, on a like-for-like basis. See Keppel Pacific Oak US REIT's dividend dates.
- Read this at SGinvestors.io -
- Keppel Pacific Oak US REIT's gearing inched up marginally to 38.2% vs 37.5% in 3Q22. Average cost of debt rose marginally by 10bps q-o-q to 3.2%. Management expects the impact of higher interest cost will likely come through in 2023 where average cost of debt may rise 50bps to 60bps.
- Read this at SGinvestors.io -
- Keppel Pacific Oak US REIT's NAV is stable at S$0.78.
Key operational highlights of Keppel Pacific Oak US REIT
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Rachel TAN DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2023-02-02
Previous report by DBS:
2022-10-27 Keppel Pacific Oak US REIT - A Calm Quarter.
Price targets by 2 other brokers at Keppel Pacific Oak US REIT Target Prices.
Listing of research reports at Keppel Pacific Oak US REIT Analyst Reports.
Relevant links:
Keppel Pacific Oak US REIT Share Price History,
Keppel Pacific Oak US REIT Announcements,
Keppel Pacific Oak US REIT Dividends & Corporate Actions,
Keppel Pacific Oak US REIT News Articles