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The latest announcement is out from Keppel Pacific Oak US REIT ( (SG:CMOU) ).
Keppel Pacific Oak US REIT’s manager has begun late-stage negotiations with a new third-party US asset manager and expects to terminate its current outsourcing arrangement with Pacific Oak Capital Advisors, which presently manages KORE’s US portfolio assets. The manager expects no disruption to property management during the transition, as the existing POCA asset management team is anticipated to move to the new asset manager once an agreement is signed, ensuring a seamless handover of responsibilities. Separately, Pacific Oak Strategic Opportunity REIT, which indirectly holds about 6.14% of KORE, is pursuing a plan of liquidation and has contacted KORE’s manager regarding a potential sale of its units, though no disposals have occurred to date; any substantial unit sales will trigger regulatory disclosure. The manager emphasized that KORE Pacific Advisors is independent from Pacific Oak REIT and reiterated its focus on strengthening operations through its diversified US portfolio and disciplined capital management to protect and enhance unitholder value.
The most recent analyst rating on (SG:CMOU) stock is a Hold with a $0.22 price target. To see the full list of analyst forecasts on Keppel Pacific Oak US REIT stock, see the SG:CMOU Stock Forecast page.
More about Keppel Pacific Oak US REIT
Keppel Pacific Oak US REIT is a Singapore-listed real estate investment trust focused on owning and managing a diversified portfolio of commercial properties in key growth markets across the United States. Its manager, Keppel Pacific Oak US REIT Management Pte. Ltd., oversees the REIT’s asset management and capital management strategies with the aim of delivering sustainable value to unitholders.
Average Trading Volume: 896,393
Technical Sentiment Signal: Buy
Current Market Cap: $255.9M
See more insights into CMOU stock on TipRanks’ Stock Analysis page.