Broker: OCBC Group Research
Date of Report: 23 April 2026
Excerpt from OCBC Group Research report.
Report Summary
- Keppel REIT (KREIT SP) – BUY | Target Price: SGD 1.03
Actionable insight: Strong rental reversions (+17.2%) and higher committed occupancy (97.1%). Distribution income grew 17.8% YoY, mainly from additional stake in MBFC Tower 3. Leverage fell to 40.2%. Slight DPU downgrade, but BUY rating maintained. Investors should focus on strong rental growth and improved financial metrics.
- OUE REIT (OUEREIT SP) – BUY | Target Price: SGD 0.41
Actionable insight: 1Q26 revenue and NPI increased 6.7% and 8.4% YoY, led by hospitality rebound and resilient commercial performance. Strategic expansion into Sydney with acquisition of 180 George Street. Upward revision of DPU projections and FV estimate. Maintain BUY; focus on growth from hospitality recovery and Australian asset.
above is an excerpt from a report by OCBC Group Research. Clients of OCBC Group Research can be the first to access the full report from the OCBC website : https://www.ocbc.com
