SINGAPORE (Oct 15): OCBC is keeping its “buy” call and 93 cents target price on Soilbuild Business Space REIT following its Q3 numbers that was in-line with expectations.

For the quarter to Sept 30, the REIT reported a 5.1% y-o-y increase in distribution per unit to 1.625 cents, largely from new contribution by three properties acquired between Oct 2014 and May 2015.

The REIT’s occupancy rate during the quarter dipped from 99.8% to 98.7%, but it was offset by positive rent increases ranging between 1.4% and 4.5%.

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