$Keppel Reit(K71U.SG)
Context: Keppel REIT’s divestment of KR Ginza II looks encouraging, with the S$90.9m sale price 28.4% above its 2022 purchase price and 9.7% above valuation.
My trade: At S$0.875, I’m still comfortable holding as NPI and distributable income continue to grow, despite lower DPU from the enlarged unit base.
Takeaway: Continued capital recycling should help strengthen the portfolio and unlock value.
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