0752 GMT - Keppel Pacific Oak US REIT's distribution suspension may weigh on its unit price in the interim, DBS Group Research analysts say in a report. They downgrade the REIT to fully valued from buy and cut the target price to $0.10 from $0.48. The REIT's strategy of a dividend suspension through to 2H 2025 will likely be a surprise to unitholders during the execution of its recapitalization plan, the analysts say. The REIT's manager is probably proactively building up further liquidity to refinance near-term debt in case there is a "funding gap" when refinancing talks begin in coming quarters, the analysts add. Units are 2.0% lower at $0.148. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 16, 2024 02:52 ET (07:52 GMT)
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