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Keppel REIT downgraded to 'sell' amid negative rent reversions

Stanislaus Jude Chan
Stanislaus Jude Chan1/25/2018 12:31 PM GMT+08  • 2 min read
Keppel REIT downgraded to 'sell' amid negative rent reversions
SINGAPORE (Jan 25): RHB Research is downgrading Keppel REIT to “sell”, from “neutral” previously, on the back of negative rent reversions that are likely to persist for K-REIT.
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SINGAPORE (Jan 25): RHB Research is downgrading Keppel REIT to “sell”, from “neutral” previously, on the back of negative rent reversions that are likely to persist for K-REIT.

This comes despite a pickup in the office market, says analyst Vijay Natarajan, as K-REIT’s expiring rents were signed closer to the previous peak in 2014.

According to Natarajan, K-REIT signed 26 leases with net lettable area (NLA) totalling approximately 297,300 sq ft in 4Q17, at an estimated rent reversion of -6%. This was steeper than the estimated rent reversion of -4% in FY17.

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