Keppel REIT - UOB Kay Hian 2023-10-09: Stability From Singapore & Recovery From Sydney

• 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 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:
2025-04-24 Keppel REIT 1Q25 - Completes AEI For Pinnacle Office Park & 255 George Street.

Previous report by UOB:
2025-01-31 Keppel REIT -Keppel REIT - UOB Kay Hian 2025-01-31: Inorganic Growth From Australia.

Price targets by 2 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