Keppel REIT - CGS-CIMB Research 2023-10-17: Robust Operational Performance

Keppel REIT - Robust Operational Performance

Published:
Keppel REIT (SGX:K71U) | SGinvestors.ioKeppel REIT (SGX:K71U)
  • In its 9M23 business update, Keppel REIT (SGX:K71U) reported a 5% rise in 9M23 revenue to S$172.6m, but NPI grew by a smaller 1% y-o-y to S$134m due to higher property expenses including utilities cost and property taxes.
  • - Read this at SGinvestors.io -

Higher take-ups in Australia and Japan boost occupancy

  • Portfolio occupancy increased 100bp q-o-q in 3Q23 to 95.9% (97.9% excluding the newly-completed Blue & William in Australia), with take-up at 8 Chifley Square and KR Ginza II rising 9.7% and 38.2% points, respectively, to 97.1% and 74.5%, while occupancy at Blue & William increased 4.8% points to 42.5%.
  • - Read this at SGinvestors.io -

Expect low-to-mid single-digit rental reversions for FY24

  • Read more at SGinvestors.io.




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 | Natalie ONG CGS-CIMB Research | https://www.cgs-cimb.com 2023-10-17



Previous report by CGS-CIMB:
2023-09-25 Keppel REIT - Resilient Portfolio.

Price targets by 4 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 Dividends & Corporate Actions,
Keppel REIT News Articles





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