RHB Group Research has kept its “buy” call for Keppel Pacific US REIT (KORE) with a higher target price of 90 US cents ($1.22), up from 84 US cents previously, after it announced its 1HFY2021 ended June results on July 26.

See: KORE’s 2Q DPU rises 1.3% y-o-y to 1.58 US cents

RHB analyst Vijay Natarajan views the REIT’s 1HFY2021 results as “solid” and in line with his estimates. The REIT reported a distribution per unit (DPU) of 3.16 US cents for the 1H, up 1.9% y-o-y, supported by positive rent reversions and rental escalations plus lower expenses, which offset a lower occupancy and car park income. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook