He says that the REIT has good leasing momentum with occupancy improvement expected in the coming quarters. The REIT signed about 210,000 sq ft of leases in 3Q2024, and about more than two times that in 2Q2024.
RHB Bank Singapore has kept its target price and “buy” call unchanged for Prime US REIT (SGX:OXMU
) , following the REIT’s 3QFY2024 results ended Sept 30 which saw a lower distributable income of US$8.5 million ($11.5 million) y-o-y. RHB’s target price is kept at 23 US cents.
Analyst Vijay Natarajan says that the REIT is priming for a recovery, with its 3QFY2024 operational numbers in line, but distributable income was “slightly below” his expectations.
