Keppel REIT - RHB Invest 2024-04-23: A Good Quarter; BUY

• 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.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-02-03 Keppel REIT - Still A Bargain; BUY.

Previous report by RHB:
2024-10-22 Keppel REIT - Healthy Office Momentum Continues; 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 Dividend Payout Dates & Corporate Actions,
Keppel REIT News