- Keppel REIT share price trades at a hefty >35% discount to book value, which we believe presents a good medium-term buying opportunity.
- 1Q24 financial metrics came in line. Operationally, Keppel REIT's portfolio continues to show strength despite market concerns over the office sector with stronger-than-expected double-digit rent reversions and stable occupancy.
- - Read this at SGinvestors.io -
Healthy positive double-digit rent reversion of 10.9%
- Healthy positive double-digit rent reversion of 10.9% (FY23: +9.9%), driven by higher renewal rents in Singapore and Australia. Similar to its peer, Keppel REIT highlighted continued strength in Singapore office demand and increased its guidance for full-year rent reversions to mid-to-high single digits (from low single digits earlier).
- - Read this at SGinvestors.io -
Portfolio occupancy dipped slightly to 96.4%
- Read more at SGinvestors.io.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2024-04-23
Previous report by RHB:
2024-04-02 Keppel REIT - Acquisition Of 255 George Street; BUY.
Price targets by 3 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
