Broker: OCBC Group Research
Date of Report: 23 April 2026

Excerpt from OCBC Group Research report.

Report Summary

Keppel REIT (KREIT SP)
Action: BUY
Target Price: SGD 1.03
Key Idea: Strong rental reversions (+17.2%) and uplift in committed occupancy to 97.1%. Despite a slight trim in DPU forecasts and fair value, the REIT’s fundamentals remain robust with improved leverage and solid operating metrics. Maintain BUY.
OUE REIT (OUEREIT SP)
Action: BUY
Target Price: SGD 0.41
Key Idea: 1Q26 revenue and NPI grew on the back of a rebound in hospitality and resilient commercial performance. Strategic acquisition of 180 George Street in Sydney and potential divestment of One Raffles Place position the REIT for further growth. FY26/27 DPU projections revised up. Maintain BUY.

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 Group Research website : https://www.ocbc.com