Keppel Pacific Oak US REIT 1H25 - UOB Kay Hian 2025-07-30: Gradually Restoring Payout Ratio

• Keppel Pacific Oak US REIT guided portfolio occupancy at mid-to-high 80% by end-25. Management envisages a phased approach with gradual step-ups in payout ratio.
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1H25 results

• Keppel Pacific Oak US REIT reported distributable income of US$19.9m for 1H25 (- 16.2% y-o-y), which is in line with our expectation. It had suspended distribution in 1H25 due to its Recapitalisation Plan.

Higher repair & maintenance expenses.

• - Read this at SGinvestors.io -
• The decline was due to lower cash rental income from higher free rents and higher repair & maintenance expenses. NPI margin narrowed by 2ppt y-o-y to 54.5%. Finance expenses dropped 0.6% y-o-y.

Turned around to positive reversion.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-09-10 Keppel Pacific Oak US REIT - Gradually Restoring Payout Ratio.

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 Dividend Payout Dates & Corporate Actions,
Keppel Pacific Oak US REIT News