0747 GMT - Prime US REIT likely has a firm focus on increasing occupancy of its assets, based on a recent non-deal roadshow with the REIT, RHB Research analyst Vijay Natarajan says in a research report. The REIT is holding active leasing discussions with a 2025 goal of reaching around 90% occupancy, including late-stage negotiations with a prospective government tenant for Park Tower in Sacramento that can boost occupancy to about 90% from 68%, the analyst notes. Leasing demand has picked up, but the REIT guided that leasing lead times are high at around 6-12 months and some tenants are downsizing, the analyst adds. RHB has a buy rating and a target price of US$0.23 on the units, which are down 2.9% at US$0.169. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 08, 2024 03:47 ET (07:47 GMT)
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