Analysts from CGS-CIMB Research and Maybank Kim Eng are mixed on Keppel REIT’s 1QFY2021 ended March business update which came out on April 21.

CGA-CIMB analyst Lock Mun Yee positively views the REIT’s performance, highlighting that new acquisitions and interest cost savings boosted its distributable income by 22% y-o-y to $51.6 million.

Despite portfolio committed occupancy slipping q-o-q to 96.5%, Lock points out that the REIT signed or renewed leases for some 309,800 square feet of space in the 1QFY2021 at an average rental uplift of about 10.7%. 

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