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Keppel REIT to benefit from lease renewals, Australia portfolio going forward: UOB

SINGAPORE (Mar 7): UOB Kay Hian is maintaining its “buy” call on Keppel REIT with a target price of $1.35 on expectations of the REIT to benefit from the full-year impact of leases, which were renewed in 2018, this year.

Based on the latest set of FY18 results, the research house likes the REIT for its high tenant retention of 83% and improved average signing rent for Singapore offices leases at $11.10 psf pm versus $9.80 in 2017.

Keppel REIT 3Q DPU falls 12.5% to 1.4 cents on lower share of results of associates

SINGAPORE (Oct 17): The manager of Keppel REIT has declared a distribution per unit (DPU) of 1.4 cents in 3Q17, 12.5% lower than the DPU of 1.6 cents in 3Q16 on lower share of results of associates. 

This brings the REIT’s 9M17 DPU to a total of 4.27 cents.

Net property income for the quarter grew 0.3% to $31.7 million in 3Q17 from $31.6 million in 3Q16, while property income grew 2.3% to $40.4 million from $39.5 million a year ago.

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