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Keppel Pacific Oak US REIT’s 1Q FY24 Result Review
By REIT-TIREMENT  •  April 23, 2024
Basic Profile & Key Statistics

Key Indicators

Performance Highlight
Gross revenue and NPI remain similar YoY. However, income available for distribution declined due to higher finance costs. 

Rental Reversion

Rental revision for 1Q is at -1.4%.

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Related Parties Shareholding

The directors of the REIT manager hold a relatively high proportion of shares whereas the sponsor holds a relatively low proportion of shares.

Lease Profile

The lease expiry is well spread, and all properties are freehold. However, the committed occupancy rate is relatively low.

Debt Profile

All debts are unsecured. However, the gearing ratio is relatively high, and there is a low proportion of fixed-rate debt.

Diversification Profile

Overall, the portfolio is well diversified.

Key Financial Metrics

The manager's management fee is relatively low compared to operating distributable income. Operating distributable income on capital and operating distribution proportion are high. However, the operating distributable income margin is low.


DPU Breakdown
TTM Distributable Income Breakdown:100% from OperationTTM DPU = 25.5% of Distributable Income

Trends


Slight Downtrend: NAV
...
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By REIT-TIREMENT
I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...
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