The REIT’s 1HFY2024 NPI growth was driven by higher occupancy from Ocean Financial Centre and KR Ginza II, as well as contributions from 2 Blue Street and 255 George Street, a Grade A office property that was acquired on May 9.
Analysts from RHB Bank Singapore, Maybank Securities and OCBC Investment Research (OIR) have all kept their “buy” calls on Keppel REIT after its 1HFY2024 ended June results, which saw a higher net property income (NPI) attributable to unitholders of $87.2 million.
However, RHB’s Vijay Natarajan is lowering his target price from $1.08 to $1.05, while Krishna Guha from Maybank’s target price is unchanged at $1, and OIR’s research team has increased its target price from 92 cents to 98 cents.
