0705 GMT - Keppel REIT's expansion into the retail sector looks strategic, UOB Kay Hian's Jonathan Koh says, noting the REIT's acquisition of a 75% effective interest in a Sydney retail mall. The REIT's diversification of its traditionally office-focused portfolio into retail assets is "much welcome," the analyst says in a research report. Such assets are defensive, resilient and provide a more attractive net-property-income yield, he adds. With a high committed occupancy rate of 96% and a long weighted average lease expiry of 4.2 years, the retail mall offers defensive characteristics and stable income generation. The brokerage has a buy rating and a target price of S$1.20 on the units, which are unchanged at S$1.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 13, 2025 03:05 ET (07:05 GMT)
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