Broker: DBS
Date of Report: 21 Apr 2026

Excerpt from DBS report.

Report Summary

• Stock: Keppel REIT
• Action: Reiterate BUY
• Target Price: SGD1.05
• Most Important Idea: Keppel REIT delivered a strong start to FY26, driven by robust rental reversions (+17.2%), higher occupancy (97.1%), and contributions from recent acquisitions. Estimated 1Q26 DPU of 1.27 Scts was slightly ahead of projections. The strongest near-term catalyst is continued strong rental reversion, especially in Singapore, with average signing rents 11% above expiring rents. Overall borrowing costs improved and leverage remains manageable. Key risks to watch include North Asia occupancy and refinancing conditions.

above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website : https://www.dbs.com.sg