- 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
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- 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
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- 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.