- Tenant sales declined by 7.2% y-o-y in 9M24 as 3Q24 sales were disrupted by a heatwave in Chongqing and earthquakes. In addition, Sasseur REIT observed a more cautious spending pattern in China, which caused a decline in international brand sales.
- - Read this at SGinvestors.io -
- We reiterate our BUY recommendation on Sasseur REIT with a lower DDM-based Sasseur REIT's target price of S$0.84 (prev: S$0.87). Sasseur REIT's share price is currently trading at an FY24e dividend yield of 9.2% and a P/NAV of 0.8x.
The Positives
Refinancing well on track.
- - Read this at SGinvestors.io -
- Following the 25 basis point rate cut in China's Loan Prime Rate in October 2024 and the recent Federal Reserve rate cut last week, Sasseur REIT projects annual interest savings of ~S$0.8mil.
Resilient occupancy rate.
- 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 | http://www.poems.com.sg/ 2024-11-11
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 Dividends & Corporate Actions,
Sasseur REIT News Articles
