Keppel Pacific Oak US REIT (CMOU) AI Stock Analysis

• Market Cap: $198.45M
• Dividend Yield: 24.56%
• Average Volume (3M): 613.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.54
• Revenue Growth: -2.52%
• EPS Growth: 89.81%
• Country: SG
• Employees: 8
• Sector: Real Estate
• Sector Strength: 69
• Industry: REIT - Office
• EPS (TTM): >-0.01
• Shares Outstanding: 1,044,450,200
• 10 Day Avg. Volume: 559,920
• 30 Day Avg. Volume: 613,200
• PEG Ratio: 1.32
• Price to Book (P/B): 0.88
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 17.19
• Enterprise Value/Market Cap: 5.53
• Enterprise Value/Revenue: 1.83
• Enterprise Value/Gross Profit: 13.81
• Enterprise Value/Ebitda: 3.32
• 1Y Price Target: $0.28
• Price Target Upside: 47.37% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 55 Neutral
• Price Target: $0.00 ▼(-100.00%Downside)

Keppel Pacific Oak US REIT's overall stock score is primarily influenced by its mixed financial performance and bearish technical indicators. The firm faces challenges with declining revenue and negative profitability, compounded by weak technical momentum. The valuation is also unattractive due to the lack of positive earnings and dividend yield. Investors should be cautious given these factors.

Positive Factors

Financial Flexibility

Successful refinancing of 2024-2025 expiring debt allows REIT to have more financial flexibility.

Leasing and Occupancy

Stronger leasing velocity and rising occupancy rates are seen as green shoots emerging for the company.

Tenant Composition

Unique technology tenants with office assets located in office growth markets in the US contribute significantly to the company's net property income.

Negative Factors

Distribution Delays

While the worst might be over, distribution resumption is likely still a year out, leading to delayed buying-in of the stock and likely sideways trading performance.

Economic Risks

Economic growth could be impacted by inflation or recession, posing a risk of lower-than-expected rental income if office demand slows.

Financial Performance

Gross revenue and NPI declined 3.7% and 14.1% yoy respectively in 2H24 due to higher repair & maintenance expenses.

Keppel Pacific Oak US REIT Business Overview & Revenue Model

Company Description

Keppel Pacific Oak US REIT (CMOU) is a Singapore-based real estate investment trust that primarily invests in a diversified portfolio of income-producing commercial assets and real estate-related assets in the United States. The REIT focuses on office properties and is managed by Keppel Pacific Oak Management Pte. Ltd. Its portfolio is strategically located in key growth markets across the U.S., targeting regions with strong economic and employment fundamentals to provide stable and growing distributions to its investors.

How the Company Makes Money

Keppel Pacific Oak US REIT generates revenue primarily through the leasing of its office properties to a diverse range of tenants. Rental income from these office leases forms the core of its revenue model. The REIT's strategy involves acquiring properties in high-growth markets with favorable demand-supply dynamics, allowing it to maintain high occupancy rates and negotiate favorable lease terms. Additionally, Keppel Pacific Oak US REIT may engage in property management and ancillary services, which contribute to its revenue. The REIT may also seek to enhance returns through strategic asset enhancement initiatives and opportunistic property acquisitions. Partnerships with real estate developers and financial institutions can also play a role in expanding its portfolio and revenue potential.

Keppel Pacific Oak US REIT Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
150.30M	142.62M	146.50M	144.69M	138.58M	136.24M
	Gross Profit
79.53M	74.29M	81.65M	80.80M	79.82M	79.43M
	EBIT
66.71M	69.26M	68.10M	35.21M	93.01M	93.65M
	EBITDA
66.71M	15.79M	-74.31M	105.59M	104.82M	93.65M
	Net Income Common Stockholders
-71.43M	-6.89M	-67.72M	48.48M	77.35M	56.39M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
41.95M	44.19M	43.78M	63.44M	50.98M	57.32M
	Total Assets
1.42B	1.39B	1.39B	1.52B	1.51B	1.37B
	Total Debt
606.35M	604.82M	599.57M	577.72M	561.60M	503.87M
	Net Debt
564.40M	560.63M	555.79M	514.28M	510.63M	446.55M
	Total Liabilities
679.39M	671.66M	670.47M	673.42M	659.67M	594.68M
	Stockholders Equity
743.62M	716.31M	723.20M	846.08M	853.89M	772.07M
Cash Flow		Free Cash Flow
15.04M	73.99M	14.56M	35.74M	55.43M	48.28M
	Operating Cash Flow
61.74M	73.99M	61.26M	79.37M	82.92M	74.61M
	Investing Cash Flow
-56.71M	-50.60M	-45.88M	-7.60M	-130.89M	-26.28M
	Financing Cash Flow
-1.33M	-22.97M	-34.22M	-59.31M	41.63M	-29.23M

Keppel Pacific Oak US REIT Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:CMOU, the sentiment is Neutral. The current price of 0.19 is above the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.19, and below the 200-day MA of 0.22, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.21 is Neutral, neither overbought nor oversold. The STOCH value of 59.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:CMOU.

Keppel Pacific Oak US REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ODBU	74 Outperform	$262.62M	8.59	6.86%	9.48%	1.37%	-10.66%
Sector *	61 Neutral	$2.83B	10.72	0.40%	6.10%	5.80%	-21.26%
CMOU	55 Neutral	$198.45M	―	-0.96%	24.56%	-2.52%	89.81%
OXMU	52 Neutral	$191.01M	23.93	1.13%	1.53%	-11.42%	―
BTOU	47 Neutral	$110.15M	―	-34.26%	―	-19.44%	53.13%
BWCU	46 Neutral	S$226.75M	―	-109.63%	14.45%	-23.02%	84.15%

Keppel Pacific Oak US REIT Corporate Events

Keppel Pacific Oak US REIT Announces Change in Trustee’s Registered Address

Keppel Pacific Oak US REIT Management Pte. Ltd. announced a change in the registered address of its trustee, Perpetual (Asia) Limited, to 38 Beach Road #23-11, South Beach Tower, Singapore. This change is part of the company’s administrative updates and does not impact the office address of the Trustee, which remains at 16 Collyer Quay, Singapore. The announcement is informational and does not affect the operations or market positioning of the REIT.

The most recent analyst rating on (SG:CMOU) stock is a Hold with a $0.28 price target. To see the full list of analyst forecasts on Keppel Pacific Oak US REIT stock, see the SG:CMOU Stock Forecast page.

Keppel Pacific Oak US REIT Holds Annual General Meeting

Keppel Pacific Oak US REIT (KORE) recently held its Annual General Meeting (AGM) at the Suntec Singapore Convention and Exhibition Centre. The meeting was attended by key figures including the Chairman, CEO, and several directors. This gathering is a significant event for KORE as it provides an opportunity for the leadership to engage with unitholders, discuss the company’s performance, and outline future strategies. Such meetings are crucial for maintaining transparency and fostering trust among stakeholders, which can impact the company’s market perception and investor confidence.

The most recent analyst rating on (SG:CMOU) stock is a Hold with a $0.28 price target. To see the full list of analyst forecasts on Keppel Pacific Oak US REIT stock, see the SG:CMOU Stock Forecast page.

Keppel Pacific Oak US REIT Holds Key Extraordinary General Meeting

Keppel Pacific Oak US REIT (KORE) held an Extraordinary General Meeting (EGM) at Suntec Singapore Convention and Exhibition Centre. The meeting was attended by key members of the board and management, including the Chairman, CEO, and several independent directors. This meeting is part of KORE’s ongoing efforts to engage with its stakeholders and discuss strategic directions, which could have implications for its operations and market positioning.

The most recent analyst rating on (SG:CMOU) stock is a Hold with a $0.28 price target. To see the full list of analyst forecasts on Keppel Pacific Oak US REIT stock, see the SG:CMOU Stock Forecast page.

Keppel Pacific Oak US REIT Discusses Trust Deed Amendments Amid Market Shifts

Keppel Pacific Oak US REIT recently held a dialogue session discussing the proposed amendment to its Trust Deed concerning distributions. The company observed strong leasing activity in most markets during the fourth quarter of 2024, with positive sentiment in cities like Dallas, Austin, and Nashville, although Denver is expected to face challenges. The recent tariffs imposed by the US government have introduced uncertainties, potentially impacting the economy and employment, but may also lead to interest rate cuts that could benefit property valuations. Despite a decline in valuations in FY 2024, the company successfully increased occupancy to 90% by the end of the year, leveraging withheld distributions to support leasing momentum.

Keppel Pacific Oak US REIT Confirms Non-Applicability of US Withholding Tax for Non-US Unitholders

Keppel Pacific Oak US REIT announced that the US withholding tax under Section 1446(f) of the Internal Revenue Code does not apply to non-US unitholders transferring units, as KORE is structured to avoid being classified as engaged in a US trade or business. The company has issued a new Qualified Notice effective from April 1, 2025, confirming this status and plans to update this notice quarterly, ensuring stakeholders are informed about tax implications and compliance.