Prime US REIT - RHB Invest 2023-11-08: Navigating Challenging Times; BUY

• Key uncertainties for Prime US REIT (SGX:OXMU) are the extent of year-end valuation decline – for which we have pencilled in a ~10% drop – and the refinancing of its upcoming 2024 debt. Valuations are at distress levels (P/BV: 0.25x). We see room for upside once these hurdles are cleared.
• - Read this at SGinvestors.io -

Occupancy likely to trough at ~80%

• Prime US REIT's occupancy likely to trough at ~80% with two known key tenant vacates – Sodexo (~5% of income) by end 2023, and Apache Corp (2.2%) by mid- 2024.
• - Read this at SGinvestors.io -
• At One Washingtonian Center, where Sodexo will be vacating, plans are in place to modernise and refurbish the asset with a revamped lobby. The asset enhancement plans, coupled with good surrounding amenities, has drawn healthy interest, with the recent signing of a healthcare tenant (19k sq ft) with a long 11-year lease.
• Other assets undergoing upgrades include Tower 909 and Reston Square.

Focused on improving occupancy over rents.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-08-13 Prime US REIT - Ramping Up Portfolio Occupancy; BUY.

Previous report by RHB:
2025-07-15 Prime US REIT - Making Progress On Large Lease Signings; BUY.

Price targets by other brokers at Prime US REIT Target Prices.

Listing of research reports at Prime US REIT Analyst Reports.

Relevant links:
Prime US REIT Share Price History,
Prime US REIT Announcements,
Prime US REIT Dividend Payout Dates & Corporate Actions,
Prime US REIT News