- Sasseur REIT (SGX:CRPU)'s 1Q24 rental income in S$ terms was within expectations at 25% of our FY24e estimates (S$32.6mil, -1.4% y-o-y, +1.2% y-o-y in RMB), representing a S$0.5mil y-o-y decrease due to the weakening RMB against the S$ by 2.5%.
- - Read this at SGinvestors.io -
- We reiterate our BUY recommendation with an unchanged DDM target price of S$0.87. FY24e – FY25e DPU forecast for Sasseur REIT is lowered by 1% to 6.31-6.67 Singapore cents after factoring in a weaker RMB against the Singapore dollar.
- Sasseur REIT has changed to a half-yearly dividend distribution.
The Positive
Raising VIP member base.
- - Read this at SGinvestors.io -
The Negative
Outlet sales slid by 2.6% y-o-y to RMB 1258.7mil
- Read more at SGinvestors.io.
Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.
Liu Miao Miao Phillip Securities Research | https://www.stocksbnb.com/ 2024-05-15
Read also Phillip's most recent report:
2024-11-11 Sasseur REIT - Sales Disrupted By Natural Disasters.
Previous report by Phillip:
2024-08-07 Sasseur REIT - Muted Sales.
Price targets by other brokers at Sasseur REIT Target Prices.
Listing of research reports at Sasseur REIT Analyst Reports.
Relevant links:
Sasseur REIT Share Price History,
Sasseur REIT Announcements,
Sasseur REIT Dividend Payout Dates & Corporate Actions,
Sasseur REIT News
