0631 GMT - Keppel REIT's organic growth outlook appears steady, according to DBS Group Research analysts in a report, as they maintain a buy rating on the unit. Property fundamentals across the REIT's portfolio are solid, with Singapore properties likely to experience continued robust rental adjustments due to tight supply, the analysts note. Additionally, a flight-to-quality trend could lead to resilient occupancies for the REIT in the medium term, they add. However, the REIT's manager will pay 25% of units in cash in 2025, compared to 0% in 2024. This prompts a slight adjustment to DBS's distribution-per-unit estimates for the REIT and a reduction in the target price to S$1.10 from S$1.15. Units closed unchanged at S$0.86. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 28, 2025 01:31 ET (06:31 GMT)
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