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CGS-CIMB likes Sasseur REIT as 1Q results in line with estimates

Samantha Chiew
Samantha Chiew5/23/2022 05:09 PM GMT+08  • 3 min read
CGS-CIMB likes Sasseur REIT as 1Q results in line with estimates
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CGS-CIMB Research is reiterating its “buy” recommendation on Sasseur REIT with a target price of $1.06.

This comes on the back of the REIT announced its latest 1QFY2022 ended March business update, which saw distribution per unit (DPU) come in 3.58% higher y-o-y at 1.822 cents. This growth includes the REIT retaining some $2.5 million or 10% of its distributable income for working capital purposes. If not, DPU would have been another 3.5% higher at 2.024 cents.

According to the REIT’s manager, this quarter recorded the highest 1Q DPU since the REIT’s listing.

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