Keppel REIT's Office Deal Could Fortify Position in Supply-Constrained Market
Dow Jones10-21 10:26
0226 GMT - Keppel REIT's deal to buy a 51% stake in a Singapore office asset could fortify the real-estate investment trust's position in a supply-constrained market, with potentially higher demand from technology and traditional tenants, says Maybank Securities' Krishna Guha in a note. The asset should offer healthy lease momentum and visibility from the guaranteed income in the initial years, which present a good mix of growth and stability, he says. Maybank maintains its buy rating and 1.00 Singapore dollar target price on Keppel REIT, citing attractive valuations and favorable demand-supply dynamics. Units rise 0.6% to S$0.79.
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