0323 GMT - Keppel REIT's valuations remain undemanding, says RHB Singapore's Vijay Natarajan. The REIT's 3Q portfolio occupancy improved, he says, noting strong double-digit increase in rents for its Australian assets. He notes that rents are likely to rise by mid to high single digits in 2025, and that financing costs are expected to peak in 1Q 2025. The REIT trades at a price-to-book ratio of 0.7X and remains RHB's top pick in the office sector. RHB maintains a buy rating with a target price of S$1.05. Units are down 0.5% at S$0.92. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
October 22, 2024 23:23 ET (03:23 GMT)
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