RHB has maintained its “buy” call for Keppel Pacific Oak US REIT (KORE) with a target price of US$0.80 (SG$1.10) on its “strong” set of 1H20 results, and distribution per unit (DPU) coming ahead of the brokerage’s expectations.

On July 22, KORE reported 2Q20 DPU of 1.56 US cents, some 4.0% higher than its DPU of 1.50 US cents in 2Q19.

Its 1H20 DPU rose 3.3% y-o-y, which is aided by positive double-digit rental reversions from previous quarters, rental escalations, and contributions from One Twenty Five in Dallas..

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