- Keppel REIT provided a business update for its 9M24 results. 9M24 distributable income (DI) declined 1.9% y-o-y to S$160.6m and was within our expectations.
9M24 results in-line with our expectations
- - Read this at SGinvestors.io -
- Taking into account other major line items such as the 33.3% y-o-y jump in borrowing costs to S$65.0m and increase in share of results of associates and joint ventures (+6.0% y-o-y to S$83.1m), Keppel REIT’s 9M24 distributable income (including its anniversary distribution) fell 1.9% y-o-y to S$160.6m. This accounted for 73.6% of our FY24 forecast and was in-line with our expectations.
Healthy operational trends in portfolio occupancy
- - Read this at SGinvestors.io -
- Occupancy in Singapore and North Asia remained stable and high at 98.9% and 100%, respectively.
Another quarter of robust rental reversions
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-10-23
Previous report by OCBC:
2024-07-30 Keppel REIT - Resilient Operations With Singapore Asset Valuations Holding Up Well.
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
