Keppel Pacific Oak US REIT 1H23 - UOB Kay Hian 2023-07-28: Differentiated By Focus On Growth Cities

• Keppel Pacific Oak US REIT's adjusted NPI grew 1.4% y-o-y in 1H23 due to better performance from its existing properties despite the divestment of two Atlanta assets. The better performance relative to its peers demonstrated the merits of Keppel Pacific Oak US REIT’s focus on growth cities and constant investment on maintenance and amenities.
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• Keppel Pacific Oak US REIT's share price trades at an attractive 2023 distribution yield of 16.7% and P/NAV of 0.58x (42% discount to NAV). Maintain BUY. Target price: US$0.50.

Keppel Pacific Oak US REIT (KORE)'s 1H23 Results

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Growing despite timely divestments that reduced leverage.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-04-02 Keppel Pacific Oak US REIT - Throttling The Payout Ratio Level.

Previous report by UOB:
2025-02-05 Keppel Pacific Oak US REIT 2H24 - Sequential Uptick In Occupancy; Stable Portfolio Valuation.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
Keppel Pacific Oak US REIT News