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Brokers' take

Published Tue, Jul 16, 2019 · 09:50 PM

Keppel Reit | Buy (maintained) July 16 close: S$1.27 Target price: S$1.37 UOB Kay Hian, July 16

Keppel Reit, which released Q2 FY 2019 earnings after Monday's market close, declared a distribution per unit (DPU) of 1.39 Singapore cents, which is in line with our expectations.

Property income declined 22.7 per cent y-o-y due to a high base as a result of one-off income of S$12 million received from the early termination of leases in Q2 FY2018.

We expect Keppel Reit to maintain positive rental reversion for its Singapore office portfolio. 311 Spencer will s…