- Keppel REIT (SGX:K71U)’s 9M23 property income and net property income attributable to unitholders rose 5.0% and 0.3% y-o-y to S$172.6m and S$120.4m, respectively.
9M23 distributable income fell 1.1% y-o-y to S$163.6m but was in-line with our expectations
- - Read this at SGinvestors.io -
- 9M23 distributable income formed 73.7% of our initial FY23 forecast.
Improved occupancy
- Keppel REIT’s portfolio committed occupancy improved by 1.0 ppt q-o-q to 95.9% and this was driven largely by ramp up in occupancies at 8 Chifley Square (97.1%) and Blue & William (42.5%) properties in Australia, and KR Ginza II (74.5%) in Japan.
- - Read this at SGinvestors.io -
Acceleration in 3Q23 portfolio rental reversions to 10.7%
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-10-18
Read also OCBC's most recent report:
2024-10-23 Keppel REIT - Solid Operational Performance But Gearing Crept Higher .
Previous report by OCBC:
2024-07-30 Keppel REIT - Resilient Operations With Singapore Asset Valuations Holding Up Well.
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 Dividends & Corporate Actions,
Keppel REIT News Articles
