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. 

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