- On a same-store-basis, Keppel REIT improved portfolio occupancy by 1.5ppt y-o-y to 97.0% in 2Q23 by backfilling vacant space ahead of new supply hitting in 4Q23.
- Keppel REIT's P/NAV at 0.62x is almost at the low of 0.61x on 23 Mar 20 during the onset of the COVID-19 pandemic. Thus, potential downside from Keppel Corp shareholders selling Keppel REIT units they received in specie could be limited.
- - Read this at SGinvestors.io -
Well-positioned in Singapore with vacant spaces backfilled.
- Keppel REIT (SGX:K71U) maintained high portfolio occupancy of 94.9% in 2Q23 (improved 0.7ppt q-o-q and 1.5ppt y-o-y to 97.0% if we exclude newly-completed Blue & William in Sydney).
- - Read this at SGinvestors.io -
Maintaining positive rental reversion in 2H23.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-10-09
Read also UOB's most recent report:
2024-04-02 Keppel REIT - Choice Pick From Down Under.
Previous report by UOB:
2024-01-31 Keppel REIT - 2H23 Gaining Better Traction In Australia & Japan.
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
