KREIT: 1Q16 in line; renewals saves it from the worst of the upcoming glut
- DPU 1.68¢ (-1.2% y/y), distributable income $54.4m (+0.8%)
- Renewed 0.4m sf of space, with rental reversions moderating to 7%.
- Leaves only 3% of its portfolio up for renewal this year.
- 85% of portfolio up for renewal in 2018 and beyond, saving it from the worst of the upcoming supply glut in office space.
- Currently trading at 6.7% yield, 0.7P/B
- MKE has Hold with TP of $0.97
No comments:
Post a Comment