- Keppel Pacific Oak US REIT (SGX:CMOU) reported distributable income of US$11.9m for 2Q24, which is in line with our expectations. Management plans to resume distribution in 2026. No distribution was declared for 1H24 due to its recapitalisation plan.
Resilient performance despite tough operating environment.
- - Read this at SGinvestors.io -
- Finance expenses increased 17.5% y-o-y to US$13.8m in 1H24.
Chalking up mild positive rental reversion.
- Keppel Pacific Oak US REIT registered mild positive rental reversion of 1.2% for 199,494sf of office space leased, representing 4.2% of portfolio NLA, in 2Q24. Bellevue/Redmond, Denver and Orlando contributed to most of the leasing completed in 1H24.
- - Read this at SGinvestors.io -
Portfolio occupancy improved 0.6ppt q-o-q to 90.7% in 2Q24.
- 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/ 2024-08-01
Read also UOB's most recent report:
2024-10-25 Keppel Pacific Oak US REIT 3Q24 - Gradual & Steady Recovery With Stable Occupancy.
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 Dividends & Corporate Actions,
Keppel Pacific Oak US REIT News Articles
