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DBS increases Keppel REIT’s FY21 DPU estimate as it kick-starts 'acquisition mode'

Felicia Tan
Felicia Tan10/5/2020 03:50 PM GMT+08  • 3 min read
DBS increases Keppel REIT’s FY21 DPU estimate as it kick-starts 'acquisition mode'
The analysts estimate underlying DPU for FY21 to increase 13% y-o-y.
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DBS Group Research analysts Rachel Tan and Derek Tan are positive on Keppel REIT’s “kick-starting acquisition mode” to drive its underlying distribution per unit (DPU) growth.

The analysts have maintained their “buy” call on Keppel REIT with an increased target price of $1.40 from $1.35 previously to factor in the acquisition of Pinnacle Office Park in Sydney’s Macquarie Park on Sept 13, and some interest savings from a lower average cost of borrowing.

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