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Kore US Reit
(SGX:CMOU)
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Rating:51Neutral
Price Target:
$0.18
▼(-5.79% Downside)
Action:Reiterated
Date:02/05/26
The score is primarily constrained by financial performance—ongoing net losses and weakening cash generation with free cash flow falling to zero in 2025. Technicals are neutral overall and do not offset the fundamentals. Valuation is also pressured by the negative P/E (loss-making profile) and lack of provided dividend yield.
Positive Factors
Strong property-level margins
High property-level gross margins and operating margins provide a durable earnings cushion versus revenue swings. For a US office REIT, this supports ability to cover fixed costs and debt service, preserving distributable income potential even if leasing slows.
Negative Factors
Recurring net losses
Sustained net losses and negative ROE erode equity and retained earnings, limiting internal funding for distributions or reinvestment. If losses persist, the REIT may face pressure on capital allocation, dividend capacity and could need external financing under less favorable terms.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong property-level margins
High property-level gross margins and operating margins provide a durable earnings cushion versus revenue swings. For a US office REIT, this supports ability to cover fixed costs and debt service, preserving distributable income potential even if leasing slows.
Read all positive factors
Kore US Reit (CMOU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
$185.91M
Dividend YieldN/A
Average Volume (3M)1.70M
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue Growth2.57%
EPS Growth40.91%
CountrySG
Employees8
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,044,450,200
10 Day Avg. Volume754,120
30 Day Avg. Volume1,700,900
Financial Highlights & Ratios
PEG Ratio1.47
Price to Book (P/B)0.34
Price to Sales (P/S)1.62
P/FCF Ratio41.57
Enterprise Value/Market Cap4.01
Enterprise Value/Revenue4.97
Enterprise Value/Gross Profit9.83
Enterprise Value/Ebitda20.52
Forecast
1Y Price Target
$0.33Price Target Upside71.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.04
Revenue Forecast (FY)$144.45M
Kore US Reit Business Overview & Revenue Model
Company Description
Keppel Pacific Oak US REIT, known as KORE, is an established office-focused Real Estate Investment Trust, having commenced trading on the main board of the Singapore Exchange (SGX-ST) on November 9, 2017. Its core mandate involves strategically ac...
How the Company Makes Money
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Kore US Reit Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
61
Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 151.54M | 142.62M | 150.76M | 147.98M | 141.26M |
| Gross Profit | 76.99M | 74.29M | 80.30M | 77.72M | 76.33M |
| EBITDA | 63.60M | 15.79M | 76.78M | 105.59M | 85.66M |
| Net Income | -4.08M | -6.89M | -67.72M | 48.48M | 77.35M |
Balance Sheet | |||||
| Total Assets | 1.39B | 1.39B | 1.39B | 1.52B | 1.51B |
| Cash, Cash Equivalents and Short-Term Investments | 56.29M | 44.19M | 43.78M | 63.44M | 50.98M |
| Total Debt | 612.93M | 604.82M | 599.57M | 577.72M | 561.60M |
| Total Liabilities | 677.50M | 671.66M | 670.47M | 673.42M | 659.67M |
| Stockholders Equity | 712.24M | 716.31M | 723.20M | 846.08M | 853.89M |
Cash Flow | |||||
| Free Cash Flow | 5.91M | 22.07M | 14.56M | 35.74M | 55.43M |
| Operating Cash Flow | 51.24M | 75.70M | 61.26M | 79.37M | 82.92M |
| Investing Cash Flow | -45.33M | -50.60M | -46.69M | -7.60M | -130.89M |
| Financing Cash Flow | 6.19M | -22.97M | -34.22M | -59.31M | 41.63M |
Kore US Reit Technical Analysis
Negative
0.19
Price Trends
0.19
Negative
0.19
Negative
0.21
Negative
Market Momentum
>-0.01
Negative
32.64
Neutral
29.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:CMOU, the sentiment is Negative. The current price of 0.19 is above the 20-day moving average (MA) of 0.18, above the 50-day MA of 0.19, and below the 200-day MA of 0.21, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 32.64 is Neutral, neither overbought nor oversold. The STOCH value of 29.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:CMOU.
Kore US Reit Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $313.21M | 15.03 | 4.67% | 8.23% | -1.69% | -32.49% | |
56 Neutral | $228.56M | 10.60 | 2.75% | 2.40% | -5.79% | 143.55% | |
51 Neutral | $185.91M | -44.50 | -0.27% | ― | 2.57% | 40.91% | |
50 Neutral | $124.72M | -4.51 | -6.69% | 5.06% | -5.96% | -13.94% | |
43 Neutral | S$268.97M | -2.96 | 0.97% | 8.37% | -32.17% | -868.48% | |
43 Neutral | $90.60M | -1.09 | -37.68% | ― | -32.02% | 55.49% |
* Real Estate Sector Average
SG:CMOU
Kore US Reit
0.18
-0.03
-16.04%
SG:UD1U
IREIT Global
0.21
-0.06
-22.05%
SG:OXMU
Prime US REIT
0.16
0.00
0.00%
SG:XZL
ARA US Hospitality Trust
0.21
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-23.91%
SG:BTOU
Manulife US REIT
0.05
-0.01
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SG:ODBU
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0.52
0.10
24.40%
Kore US Reit Corporate Events
KORE US REIT Confirms Non-U.S. Unitholders Exempt from Section 1446(f) Withholding Tax
Jun 30, 2026
KORE US REIT Management Pte. Ltd., manager of Singapore-listed KORE US REIT, has reiterated that U.S. withholding tax under Section 1446(f) does not apply to non-U.S. unitholders transferring units. The REIT operates as a publicly traded partnersh...
KORE US REIT Secures US$40 Million Credit Line Tied to Keppel Control
Jun 30, 2026
KORE US REIT has secured a US$40 million revolving credit facility under a new loan agreement dated 30 June 2026, obtained by its trustee Perpetual (Asia) Limited. The facility forms part of a wider financing pool of about US$742.5 million and int...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.