Keppel REIT - UOB Kay Hian 2024-01-31: 2H23 Gaining Better Traction In Australia & Japan

Keppel REIT - 2H23 Gaining Better Traction In Australia & Japan

Published:
Keppel REIT (SGX:K71U) | SGinvestors.ioKeppel REIT (SGX:K71U)
  • Keppel REIT (SGX:K71U) reported DPU of S$0.029 for 2H23 (-1.7% y-o-y), which is in line with our expectations.
  • Portfolio occupancy rose 1.2ppt q-o-q to 97.1% in 4Q23, driven by properties located overseas. Occupancy at 8 Chifley Square in Sydney further improved 2.9ppt q-o-q to 100%, while occupancy at newly-acquired KR Ginza II in Tokyo went up by a massive 25.5ppt q-o-q to 100% after securing two new tenants.
  • - Read this at SGinvestors.io -

Growth from Singapore.

  • - Read this at SGinvestors.io -
  • Borrowing costs increased 8.3% y-o-y. Contributions from its Australia portfolio were weighed down as the Australian dollar depreciated 1.6% y-o-y against the Singapore dollar.

Higher portfolio occupancy driven by overseas properties.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-01-31



Previous report by UOB:
2023-10-09 Keppel REIT - Stability From Singapore & Recovery From Sydney.

Price targets by 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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