Sasseur REIT - Phillip Securities 2024-05-15: FY24e Sales Will Be Driven By Promotional Events

Sasseur REIT - FY24e Sales Will Be Driven By Promotional Events

Published:
Sasseur REIT (SGX:CRPU) | SGinvestors.ioSasseur REIT (SGX:CRPU)
  • 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 the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.




Liu Miao Miao Phillip Securities Research | https://www.stocksbnb.com/ 2024-05-15



Previous report by Phillip:
2024-02-22 Sasseur REIT - Resilient Balance Sheet & Low Onshore Rate.

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 Dividends & Corporate Actions,
Sasseur REIT News Articles





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