Keppel REIT Likely to Benefit from Improving Office Fundamentals
Dow Jones
Sep 28
0804 GMT - Keppel REIT is likely to benefit from improving office fundamentals, given its high-quality portfolio of Grade A office buildings in central business districts, says Morningstar's Xavier Lee in a note. The Singapore real-estate investment trust's assets are coveted for their good-quality office space and proximity to businesses and key transport nodes, he says. Its portfolio should enable it to weather any economic uncertainty, he says. Lee reckons the trust is undervalued at the current price, as it trades at an attractive 2026 distribution yield of 6.1%. Keppel REIT is one of Morningstar's top sector picks. Morningstar retains a fair-value estimate of 1.10 Singapore dollars. Units rise 0.6% to S$0.85.
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