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CGS-CIMB keeps 'add' on Sasseur REIT in light of higher occupancy levels

Chloe Lim
Chloe Lim5/19/2022 09:03 PM GMT+08  • 3 min read
CGS-CIMB keeps 'add' on Sasseur REIT in light of higher occupancy levels
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CGS-CIMB Research analyst Lock Mun Yee has kept an “add” rating on Sasseur REIT with an unchanged target price of $1.06.

Sasseur REIT reported a 1QFY2022 ended March distribution per unit (DPU) of 1.822 cents up 3.6% y-o-y at 24.6% of Lock’s FY2022 forecast, reflecting a payout ratio of 90%.

The improvement was achieved on the back of a 4.7% y-o-y improvement in entrusted manager agreement (EMA) rental income to $33.4 million.

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