The REIT then aims to grow its distributions in “future years” until it gets “back up somewhere, up into that 80% to 90% range over time,” Snyder continues.
When Keppel Pacific Oak US REIT (KORE) resumes its distributions, the payout will be “substantially smaller” compared to its previous “full distributions,” says David Snyder, CEO and chief investment officer (CIO) of the REIT manager.
“We intend to start low and declare an amount that we’re confident will continue and that will continue to grow over time as well,” he adds at the REIT’s results briefing on July 29. “It’s going to be a relatively small number, but the target we have is to set a distribution that will be consistent across all four quarters of a given year or the two halves of the year.”
