As reported, Prime US REIT's 1QFY2026 portfolio committed occupancy rose to 83.1%, up 0.4 percentage points q-o-q and 4.2 ppt y-o-y, thanks to higher rental reversion of 4% and with 99,000 sq ft of space leased, including 40,000 sq ft at Village Center Station I leased for 11 years to S&P Global.
Derek Tan of DBS Group Research has kept his "buy" call and 33 US cents target price on Prime US REIT, with a view that it is seeing continued operating recovery, with occupancy improving for the fourth consecutive quarter and leasing momentum remaining healthy despite a still-challenging US office backdrop.
"The manager is seeing good leasing velocity and momentum and is optimistic that take-up rates will continue," says Tan.
