Keppel Pacific Oak US REIT - UOB Kay Hian 2024-03-07: Navigating The Office Downturn Without Diluting Unitholders’ Interests

• Keppel Pacific Oak US REIT (SGX:CMOU) has been unfairly penalised. By halting distribution in 2024 and 2025, Keppel Pacific Oak US REIT is able to fund its capex internally, while avoiding dilutive equity fund-raising and divesting its assets at depressed fire-sale prices.
• - Read this at SGinvestors.io -
• P/NAV is already at a distressed level of 0.18x although Keppel Pacific Oak US REIT has not breached any loan covenants. Maintain BUY. Target: US$0.35.

Focusing on lease renewal and tenant retention.

• - Read this at SGinvestors.io -
• Keppel Pacific Oak US REIT benefits from built-in average annual rental escalation of 2.6% across its portfolio. Committed portfolio occupancy eased slightly by 1.1ppt q-o-q to 90.3% as of Dec 23.

Halting distribution to recapitalise.

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

Read also UOB's most recent report:
2025-09-10 Keppel Pacific Oak US REIT - Gradually Restoring Payout Ratio.

Previous report by UOB:
2025-07-30 Keppel Pacific Oak US REIT 1H25 - Gradually Restoring Payout Ratio.

Price targets by other brokers at Keppel Pacific Oak US REIT Target Prices.

Listing of research reports at Keppel Pacific Oak US REIT Analyst Reports.

Relevant links:
Keppel Pacific Oak US REIT Share Price History,
Keppel Pacific Oak US REIT Announcements,
Keppel Pacific Oak US REIT Dividend Payout Dates & Corporate Actions,
Keppel Pacific Oak US REIT News