CGS-CIMB analyst Lock Mun Yee has reiterated their bullish stance on KREVF stock, giving a Buy rating today.
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Lock Mun Yee has given his Buy rating due to a combination of factors that highlight Keppel REIT’s strong performance and potential for growth. The REIT reported a notable increase in revenue and net property income for the first half of 2025, driven by contributions from key properties and positive rental reversions. Despite a slight decrease in distribution income due to management fee payments in cash, the overall financial health remains robust.
Furthermore, Keppel REIT’s portfolio occupancy remained stable, with significant leasing activity and positive rental reversions, particularly in the Singapore market. The management’s commitment to achieving double-digit rental reversions and optimizing the portfolio to enhance yield and returns further supports the positive outlook. Additionally, the expectation that funding costs have peaked, along with a substantial portion of debt being on fixed rates, provides a favorable financial environment for the REIT. These factors collectively justify the Buy rating, with potential catalysts including increased occupancy and rental growth.
In another report released today, DBS also maintained a Buy rating on the stock with a S$1.10 price target.