Keppel Pacific Oak US REIT Price target: RHB Group Research ‘buy’ 74 US cents UOB Kay Hian ‘buy’ 74 US cents DBS Group Research ‘buy’ 65 US cents Portfolio stays strong but higher rates a risk Analysts at RHB Group Research, UOB Kay Hian and DBS Group Research have kept their “buy” ...

The manager of Keppel Pacific Oak US REIT (KORE) has reported adjusted distributable income of US$14.6 million ($20.56 million) for 3QFY2022 ended Sept 30, up 2.1% y-o-y.This is supported by the acquisitions of Bridge Crossing in Nashville and 105 Edgeview in Denver that were completed in Aug 2021.F...

OFFICE-FOCUSED Keppel Pacific Oak US Reit (Kore) posted a 8.1 per cent decline in income available for distribution to US$14.6 million for the third quarter ended Sep 30, 2022, down from US$15.9 million in the same period the year before.

It has been indicated often by this publication that interest rates impact REITs in three main ways. First and foremost, the most important in the short-term is the yield spread where REIT unit prices are affected as a result of the yield spread; secondly, DPU is impacted as interest expense ris...

In terms of acquisitions, William Tay, CEO of CapitaLand Ascendas REIT's (CLAR) manager, says he prefers small bites for the time being. So far this year, CLAR’s acquisitions have been very modest. It acquired a cold storage facility at 1 Buroh Lane for $191.9 million announced on Sept 14; Philips...

RHB Group Research analyst Vijay Natarajan has maintained his “overweight” rating for US office REITs, despite the sector being down 35% year-to-date (ytd) on the back of concerns over empty office buildings, sharp interest rate hikes and fears of a possible deep recession.In comparison, Singapo...

At the panel discussion titled Risks and Opportunities for S-REITs Going Overseas held on Sept 26, Ronald Tan, senior vice-president, equity global market, global sales & origination, Singapore Exchange (SGX), in the opening address said he was asked why the exchange continues to promote oversea...

RHB Group Research analyst Vijay Natarajan has kept a “buy” rating on Keppel Pacific Oak US REIT (KORE) with a lowered target price to US 87 cents ($1.20) from US 92 cents.KORE’s operational numbers in 2QFY2022 ending December were in line with the analyst’s expectations.Headline DPU decline...

KEPPEL Pacific Oak US Reit (KORE) on Wednesday (Jul 27) reported a 5.4 per cent rise in distribution income for H1 2022 to US$31.5 million from US$29.9 million a year prior.

The manager of Keppel Pacific Oak US REIT (KORE) has reported a distribution per unit (DPU) of 1.43 US cents (1.98 cents) for the 2QFY2022 ended June, 9.5% y-o-y lower than the DPU of 1.58 US cents in the same period the year before.The quarter’s DPU brings KORE’s 1HFY2022 DPU to 3.02 US cents, ...

UOB Kay Hian analyst Jonathan Koh is keeping his “overweight” call on the Singapore REIT (S-REIT) sector, as he sees upside from the reopening against the perceived threat against inflationary pressures.The way he sees it, nascent signs of the easing of inflationary pressures have emerged.“US ...

For finance and real estate veteran David Snyder, the best piece of advice — one that resonated with him throughout his career — was given by his father when he was a teenager living in Singapore.“A principle my dad had learnt and thought worked best in building a team was to give away all the...

UOB Kay Hian analyst Jonathan Koh has kept a “buy” rating on Keppel Pacific Oak US REIT (KORE) with a target price of US$1.07 ($1.47).To the analyst, KORE has benefitted from the dispersion of jobs in the technology sector to outside of Silicon Valley, particularly with these regional technology...

SPH REIT kicked off the current financial reporting season for S-Reits on Apr 1,l 2022 with with the release of its H1 FY2022 (ended Feb 28, 2022) financial results. This was followed by other S-Reits, including Keppel DC Reit (Q1 business update), Keppel Pacific Oak US Reit (Q1 business upd...

If there was one standout from the REITs that announced results in the week of April 18-22, it was their focus on capital management. REIT managers are moving to limit the impact of interest rate hikes on their distributable incomes and distributions per unit (DPU). Interest expense is often locally...