Stock Name: K-REIT
Company Name: K-REIT ASIA
Research House: Credit Suisse
Company Name: K-REIT ASIA
Research House: Credit Suisse
Credit Suisse starts K-REIT Asia (K71U.SG) at Outperform with $1.45 target price, says Dow Jones.
Credit Suisse says office landlord's portfolio of prime assets well positioned to benefit from rising rents in Singapore, with downside protected as earnings cushioned by long-term leases with clauses for rental escalation.
Credit Suisse says office landlord's portfolio of prime assets well positioned to benefit from rising rents in Singapore, with downside protected as earnings cushioned by long-term leases with clauses for rental escalation.
Research house also notes 60% of K-REIT's assets are grade-A office buildings, which tend to lead during industry upturn. Says K-REIT's balance sheet among strongest in S-REIT sector, with 15% gearing vs 31.8% sector average.
Adds REIT has backing from sponsor Keppel Land (K17.SG), which can potentially inject $4.5 billion worth of completed, nearly-completed assets into property trust.
Price +0.8% at $1.29.
Adds REIT has backing from sponsor Keppel Land (K17.SG), which can potentially inject $4.5 billion worth of completed, nearly-completed assets into property trust.
Price +0.8% at $1.29.
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