Keppel REIT - OCBC Investment 2024-01-12: Expecting Unchanged DPU For Upcoming 2H23 Results

• Keppel REIT (SGX:K71U) is slated to release its 2H23 results on 30 Jan 2024 after market close. We expect flat 2H23 distribution per unit (DPU) from Keppel REIT on a y-o-y basis for upcoming results.

Expect unchanged 2H23 DPU on a y-o-y basis

• - Read this at SGinvestors.io -
• See Keppel REIT's distribution history. We subsequently forecast Keppel REIT's FY24 DPU to inch up 1.4% to S$0.0593 as borrowing costs could potentially drift down faster than previously expected.

Singapore core CBD Grade A office rents rose 0.4% q-o-q in 4Q23 and 1.7% y-o-y in 2023

• - Read this at SGinvestors.io -
• One positive came from the decline of shadow office space in the market, but near term challenges remain given the uncertain macroeconomic environment and upcoming supply. CBRE Research is forecasting core CBD Grade A rents to increase 2% to 3% in 2024.

Lifting fair value estimate to S$0.93

• Read more at SGinvestors.io.

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

Read also OCBC's most recent report:
2025-04-23 Keppel REIT - Slight Dip In Distributable Income.

Previous report by OCBC:
2025-01-28 Keppel REIT - Singapore Office Market Outlook Appears More Positive.

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