Renaming of Keppel Pacific Oak US REIT to KORE US REIT Marks New Chapter -- Market Talk

Dow Jones
03/23

0707 GMT - The renaming of Keppel Pacific Oak US REIT to KORE US REIT marks a new chapter, UOB Kay Hian's Jonathan Koh says in a note. The new name more clearly reflects the REIT's operating identity and strategic direction while reinforcing continuity in its U.S.-focused office platform, the analyst says. It underscores the REIT's transition from balance-sheet stabilization to a renewed focus on sustainable distributions and long-term portfolio performance. However, the brokerage cuts its 2027 and 2028 distribution per unit forecasts for the REIT by 13% and 11%, respectively, partly due to narrower net property income margin assumptions. It lowers the REIT's target price to US$0.26 from US$0.29 while maintaining a buy rating. Units are 5.3% lower at US$0.178. (ronnie.harui@wsj.com)

 

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March 23, 2026 03:07 ET (07:07 GMT)

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