- Maintain BUY rating on Keppel REIT (SGX:K71U) with DDM-derived S$1.05 target price, 19% upside from the current Keppel REIT's share price. Target price is lowered due to higher cost of equity.
- - Read this at SGinvestors.io -
- Distribution from Keppel REIT's divestment gains will offset higher funding costs. Keppel REIT's share price trades 0.7x book, offers a relatively higher yield of 6.7% and stable distribution profile versus peers.
Stable operating metrics
- - Read this at SGinvestors.io -
- Keppel REIT's under development asset in Sydney, Blue & William, is on track for completion by mid-2023 and the manager is in advanced discussions with a few prospective tenants. Keppel REIT has a 3-year rental guarantee on any unlet space after practical completion.
20th anniversary distribution of S$100m
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Krishna Guha Maybank Research | https://www.maybank-ke.com.sg/ 2023-02-10
Read also Maybank's most recent report:
2025-01-31 Keppel REIT - Robust Operations, Elevated Gearing Unchanged.
Previous report by Maybank:
2024-10-22 Keppel REIT - Holding Ground.
Price targets by 3 other brokers at Keppel REIT Target Prices.
Listing of research reports at Keppel REIT Analyst Reports.
Relevant links:
Keppel REIT Share Price History,
Keppel REIT Announcements,
Keppel REIT Dividend Payout Dates & Corporate Actions,
Keppel REIT News
