Keppel REIT - RHB Invest 2024-01-31: Offering Good Value; BUY

• Keppel REIT’s 2H/FY23 results met our expectations. Operational performance remains robust with occupancy improvement and healthy positive rental reversions – this is expected to remain strong in 2024. Borrowing cost should creep up this year, but will likely be offset by organic income growth and contribution from new developments.
• - Read this at SGinvestors.io -

2H23 DPU fell 1.7% y-o-y

• Keppel REIT (SGX:K71U)'s 2H23 DPU fell 1.7% y-o-y, as healthy 7% NPI growth from operational improvements was offset by higher borrowing costs.
• - Read this at SGinvestors.io -
• Total portfolio value rose 0.8% h-o-h, aided by higher valuation for Singapore (+1%), South Korea (+4%), and Japan (+7%), but partially offset by the decline in Australia (-1.5%) – all in local currency terms – and FX impact.

Healthy occupancy to be maintained.

• 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:
2026-01-02 Keppel REIT - A Dilutive Deal.

Previous report by RHB:
2025-10-09 Keppel REIT - Acquisition Of Australian Retail Asset; Neutral.

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