SGX:CMOUOffice REITs
KORE US REIT (SGX:CMOU) Stock Can Earnings Recovery Justify Thin Cover
KORE US REIT went into today priced like a problem child, with the unit price at US$0.18 and short term returns under pressure over the past quarter. The headline from this set of earnings is not the modest distribution restart or leasing sound bites. It is the tension between weak interest coverage and a very rich P/E multiple of 43.7x compared with regional office peers.
If you think in months, that mix looks uncomfortable. If you think in years, the question is whether the projected...