Update shared on 21 Nov 2025
Fair value Increased 1.27%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.
What's in the News
- Keppel REIT announced an agreement to acquire a 75% effective interest in Top Ryde City Shopping Centre, a freehold retail mall in Sydney, Australia (Key Developments).
- The acquisition, valued at approximately AUD 393.8 million (SGD 334.8 million), represents a significant expansion into a high-growth region with strong household incomes (Key Developments).
- Top Ryde City offers a lettable area of 77,054 square meters, provides 2,739 car park lots, and has a high committed occupancy rate of 96% (Key Developments).
- The mall is anchored by major tenants including ALDI, Big W, Coles, Kmart and Woolworths, with non-discretionary retailers accounting for 77% of gross rental income (Key Developments).
- This asset is expected to provide a fully leased initial property yield of 6.7% and a pro forma adjusted DPU accretion of 1.34% (Key Developments).
Valuation Changes
- Fair Value has increased slightly, from SGD 1.05 to SGD 1.06.
- Discount Rate has risen marginally, from 6.30% to 6.31%.
- Revenue Growth forecast has improved modestly, changing from -3.34% to -3.23%.
- Net Profit Margin has dipped slightly, decreasing from 54.53% to 54.35%.
- Future P/E has ticked up, moving from 25.69x to 26.03x.
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