- Prime US REIT will evaluate its distribution policy dynamically and chart its own unique path forward. Prime US REIT's share price trades at depressed P/NAV of 0.21x, which already reflects the downturn in the US office market.
- - Read this at SGinvestors.io -
- Maintain BUY. Target price: US$0.45.
Prime US REIT's Class A offices benefit from flight to quality.
- Prime US REIT (SGX:OXMU) focuses on well-amenitised Class A office buildings, which are well sought-after to attract employees back to work in the office. Most of Prime US REIT’s properties were built or refurbished in the last 10 years, which ensures their continued relevance to potential tenants.
Demand for office space strengthened in 4Q23.
- - Read this at SGinvestors.io -
- Leasing momentum has picked up, with leases for 304,100sf of office space executed in 4Q23, more than doubling on a sequential basis. Two of Prime US REIT’s top 10 tenants have renewed their leases:
- Read more at SGinvestors.io.
