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

Keppel REIT - Expecting Unchanged DPU For Upcoming 2H23 Results

Keppel REIT (SGX:K71U) | SGinvestors.ioKeppel REIT (SGX:K71U)
  • 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 -
  • 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

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Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @

OCBC Research Team OCBC Investment Research | 2024-01-12

Read also OCBC's most recent report:
2024-01-31 Keppel REIT - Slight Decline In FY23 DPU As Expected.

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


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