SGX:K71UOffice REITs
Keppel REIT (SGX:K71U) Stock Earnings Lean On A $327.9 Million Gain
Keppel REIT walked into this half-year update with a reputation as a high-yield office landlord trading on a modest P/E and a unit price of SGD0.915 that had climbed about 3% over the past week. The headline this time is not rental growth or distributions. It is the size and impact of a one off gain that sits inside trailing earnings and makes the past 12 months look far richer than the underlying cash engine.
For you as an income investor, the expectation gap is clear. The market is reacting...