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Analysts largely positive on Keppel REIT on likely recovery of office sector

Felicia Tan
Felicia Tan1/27/2022 2:40 PM GMT+08  • 4 min read
Analysts largely positive on Keppel REIT on likely recovery of office sector
DBS, Maybank and RHB have given the REIT target prices of $1.40, $1.05 and $1.29 respectively.
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Analysts from DBS Group Research, Maybank Securities and RHB Group Research are mostly positive on Keppel REIT after it posted its results for the FY2021 on Jan 25.

For the FY2021 ended December, Keppel REIT reported a distribution per unit (DPU) of 5.82 cents, up 1.6% y-o-y. In the 2HFY2021, the REIT’s DPU fell 1.7% y-o-y to 2.88 cents.

The higher total FY distribution is attributed to accretive acquisitions made in Melbourne and Sydney, as well as Singapore’s Keppel Bay Tower.

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