Analysts Revise Keppel REIT Valuation Amid Top Ryde Acquisition and Dividend Update

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

03 Aug 25

Updated

19 Dec 25

Views

114

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

17.9%

7D

3.1%

Loading

1Y

17.9%

7D

3.1%

You can edit this narrative until Dec 20 10:05 AM. Then, changes will post as Updates.

Author's Valuation

S$1.045.1% undervalued

AnalystConsensusTarget Fair Value

Shared on 19 Dec 25

Fair value Decreased 2.07%

K71U: Sydney Retail Acquisition Will Support Steady Income And Margin Outlook

Analysts have trimmed their price target on Keppel REIT by about S$0.02, citing a slightly higher discount rate as well as modestly improved revenue decline expectations, stronger profit margins, and a lower projected future P/E multiple. What's in the News Keppel REIT agreed to acquire a 75 percent effective interest in Top Ryde City Shopping Centre, a freehold retail mall in Sydney, for AUD 393.8 million, approximately SGD 334.8 million (Key Developments).

Shared on 05 Dec 25

Fair value Increased 0.31%

K71U: Sydney Mall Acquisition Will Support Steady Income And Distribution Profile

Analysts have nudged their price target on Keppel REIT slightly higher to S$1.07 from S$1.06, reflecting marginal adjustments to discount rate, revenue growth, profit margin assumptions, and future P/E expectations. What's in the News Agreement to acquire a 75 percent effective interest in Top Ryde City Shopping Centre, a freehold retail mall in Sydney, for AUD 393.8 million, approximately SGD 334.8 million (Key Developments) Top Ryde City Shopping Centre offers 77,054 square metres of lettable area and 2,739 car park lots within a larger mixed use development in the City of Ryde, a region with above average population and income growth compared with the rest of New South Wales (Key Developments) The mall has a high committed occupancy rate of 96 percent and a weighted average lease expiry of 4.2 years by committed gross rent.

Shared on 21 Nov 25

Fair value Increased 1.27%

K71U: Sydney Mall Acquisition And Stable Earnings Outlook To Support Steady Performance

Analysts have raised their price target for Keppel REIT slightly, increasing it from $1.05 to $1.06. They cite modest improvements in forecasted revenue trends and fair value assessments.

Shared on 05 Nov 25

Fair value Increased 2.88%

K71U: Acquisition Of Sydney Mall Expected To Support Stable Income Ahead

Analysts have raised their price target for Keppel REIT, increasing the fair value estimate from $1.02 to $1.05. This change reflects an improved outlook based on a lower discount rate and slightly more optimistic revenue projections.

Shared on 22 Oct 25

Fair value Decreased 0.52%

Narrative Update on Keppel REIT: Analyst Price Target Change Analysts have revised their fair value estimate for Keppel REIT slightly downward, adjusting it from $1.02 to $1.02. They cited improved revenue growth projections, along with moderated profit margin expectations, as influencing factors.

Shared on 08 Oct 25

Fair value Increased 1.79%

Keppel REIT's analyst price target has been revised upwards from $1.01 to $1.02. This reflects analysts’ expectations of slightly improved revenue growth, despite minor adjustments to the discount rate and profit margin forecasts.

AnalystConsensusTarget Fair Value

S$1.04

5.1% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

-1.68%

Office REITs revenue growth rate

-0.00%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

6.35%

Calculation

S$215.23m

Earnings '28

x

22.80x

PE Ratio '28

=

S$4.91b

Market Cap '28

S$4.91b

Market Cap '28

/

3.91b

No. shares '28

=

S$1.26

Share Price '28

S$1.26 Share Price '28

Discounted to 2025 @ 6.36% p.a.

=

S$1.04

Fair Value '25