Natajaran estimates KORE’s 3QFY2023 distribution per unit (DPU) to be at 1.3 US cents, which is down by 11% y-o-y but flat on a q-o-q basis. The lower DPU was due to higher financing costs and mitigated by adjusted net property income (NPI) growth of 5% y-o-y.
RHB Bank Singapore analyst Vijay Natarajan is maintaining his “buy” call on Keppel Pacific Oak US REIT (KORE) after the REIT’s results for the 3QFY2023 ended Sept 30 stood “slightly above” his expectations.
For the three-month period, KORE reported a distributable income of US$13.1 million ($17.93 million), down 10.7% y-o-y.
