Keppel Pacific Oak US REIT - DBS Research 2025-11-11: Impending Re-rating As Spring Approaches

• We re-initiate coverage on Keppel Pacific Oak US REIT (SGX:CMOU) with a target price of US$0.40, based on a DCF valuation. Our Keppel Pacific Oak US REIT's target price implies a P/B of 0.60x and an implied FY27F target yield of 4.3%, based on a 50% payout policy.
• - Read this at SGinvestors.io -

Thawing US market conditions a tailwind to an operational upturn.

• - Read this at SGinvestors.io -
• low new supply, and
• a flight-to-quality dynamic driving divergent performance across the market.
• Following significant capex on building and amenity upgrades over the past few years, funded by withheld distributions, we believe that KORE’s portfolio is well positioned to benefit from these trends going forward.

Improved financial and liquidity metrics.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2025-02-06 Keppel Pacific Oak US REIT - Green Shoots, But Dividend Payout Still A Year Away.

Price targets by 2 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