Keppel REIT (KREIT)

The manager of Keppel REIT has declared a distribution per unit (DPU) of 1.40 cents for the 2Q20 ended June, 0.7% higher than the DPU of 1.39 cents declared in 2Q19.

CGS-CIMB analyst Lock Mun Yee has maintained her “overweight” call on the office property sector.

“Post 2Q20, we believe office net demand can start to recover when GDP bottoms and drive the re-rating of office REITs,” say DBS analysts Rachel Tan and Derek Tan.

“We believe KREIT’s best-in-class office portfolio anchored by Singapore Grade A offices in prime Central Business District locations is well-positioned to benefit from a potential recovery in a very tight net supply market,” DBS analysts say.

(Nov 18): Yields on 10-year Singapore Government Securities have been rising, albeit gently from a low base (see Chart 1). Similarly, yields on 10-year US Treasuries are also rising, from a low of 1.4% in September to 1.945% as at Nov 11 (see Chart 2). On

(July 29): On July 18, CapitaLand Commercial Trust’s placement units — to raise $220 million, most likely to partially pay for Frankfurt Main Airport Center — were snapped up in less than half an hour, and pricing was tight. CCT’s acquisition of a

SINGAPORE (July 18): Deutsche Bank earlier this month announced it was axeing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis.

SINGAPORE (June 3): UOB KayHian is maintaining the Singapore office REIT sector at “overweight” given the sector in its second year of recovery after the market bottomed in 1H17.

SINGAPORE (Apr 23): Keppel REIT is acquiring a 99.38% stake in T Tower, a freehold Grade A office building in Seoul’s CBD for KRW 252.6 billion ($301.4 million).

SINGAPORE (Apr 22): The manager of Keppel REIT (KREIT) on Apr 17 announced that its 1Q19 DPU was 2.1% lower y-o-y at 1.39 cents, as distributable income dropped 1.9% y-o-y to $47.3 million.