Home Capital Broker's Calls

UOB Kay Hian initiates 'buy' on KORE with TP of US$1.10

Felicia Tan
Felicia Tan8/24/2021 10:22 AM GMT+08  • 3 min read
UOB Kay Hian initiates 'buy' on KORE with TP of US$1.10
The brokerage sees the REIT being a beneficiary of the in-migration and growth at magnet cities in the US.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

UOB Kay Hian has started “buy” on Keppel Pacific Oak US REIT (KORE) with a target price of US$1.10 ($1.49), implying a 47.7% upside to the 74.5 US cents at market close on Aug 23.

KORE has a diversified portfolio comprising office real estate in growth cities in the US. It owns 15 freehold office buildings and business campuses in nine markets namely Seattle – Bellevue/Redmond, Austin, Denver, Nashville, Houston, Dallas, Orlando, Sacramento and Atlanta.

To date, KORE has five properties in three Super Sun Belt cities namely Atlanta, Dallas and Houston, which accounted for 19.0% of assets under management (AUM). The REIT also owns six properties in four 18-hour cities, Seattle, Austin, Denver and Nashville, which accounted for 71.4% of AUM.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now