0826 GMT - Keppel Pacific Oak US REIT is likely to benefit from some tailwinds in the U.S., UOB Kay Hian's Jonathan Koh says in a research report, as the brokerage raises the unit's target price to US$0.33 from US$0.32 with an unchanged buy rating. The U.S. government has taken the lead to return to a five-day workweek, providing impetus for the private sector to do the same, the analyst notes. This work-from-office momentum would support recovery in demand for space at office buildings such as those in the REIT's portfolio. Also, management expects physical occupancy to improve to a normalized level of 70% to 80% this year, the analyst adds. Units were unchanged at US$0.24. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 07, 2025 03:26 ET (08:26 GMT)
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