not vested
Keppel REIT (KREIT SP, NEUTRAL, TP: SGD1.07)
In a Relatively Better PositionCompany Update
Keep NEUTRAL with a new SGD1.07 TP from SGD1.23, 1% upside and c.5% yield.
Among office REITs, Keppel REIT stands in a relatively better position to weather COVID-19 due to its low exposure to retail, food & beverage (F&B), and tenants in affected office sub sectors.
The low expiring rent for its office portfolio also presents a buffer in terms of lease negotiations.
We recommend investors to buy on dips, as current yields are still not attractive, in our view.
Source: RHB
https://research.rhbtradesmart.com/atta ... f74543.pdf
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