0423 GMT - Keppel REIT's portfolio occupancy seems to be improving, Maybank Research's Krishna Guha says in a research report as the brokerage maintains a buy rating. The REIT maintained a high portfolio committed occupancy of 97.9% as at Dec. 31 versus 97.6% as at Sept. 30 through proactive asset management, bolstered by a flight-to-quality trend, the analyst notes. Its commentary also suggests healthy leasing demand and positive rental adjustments in 2025, the analyst adds. However, the brokerage lowers its 2026 earnings forecast for the REIT by 7% to reflect an absence of rental support and lower income from Australia. It trims the target price to S$1.00 from S$1.05. Units are unchanged at S$0.86. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 23:23 ET (04:23 GMT)
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