- 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.
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/ 2024-03-11
Read also UOB's most recent report:
2024-11-18 Prime US REIT 3Q24 - Overcoming Transitional Downtime; Positive Leasing Momentum.Previous report by UOB:
2024-08-15 Prime US REIT - Completes Refinancing, Sharpening Focus On Leasing.Price targets by 2 other brokers at Prime US REIT Target Prices.
Listing of research reports at Prime US REIT Analyst Reports.
Relevant links:
Prime US REIT Share Price History,
Prime US REIT Announcements,
Prime US REIT Dividends & Corporate Actions,
Prime US REIT News Articles
