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Dasin Retail Trust remains attractive despite expected DPU tapering: Phillip Capital

Michelle Zhu
Michelle Zhu3/5/2018 11:49 AM GMT+08  • 2 min read
Dasin Retail Trust remains attractive despite expected DPU tapering: Phillip Capital
SINGAPORE (Mar 5): Phillip Capital is maintaining its “buy” call on Dasin Retail Trust with a 98 cent price target after FY17 revenue and net property income (NPI) came in line with its forecasts.
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SINGAPORE (Mar 5): Phillip Capital is maintaining its “buy” call on Dasin Retail Trust with a 98 cent price target after FY17 revenue and net property income (NPI) came in line with its forecasts.

The research house has raised its DPU estimate for FY18 by 3% to 9.79 cents after factoring in higher NPI margins – which has more than offset its downward revenue forecast by 0.6-1.2% for FY18-19, respectively, from the change in portfolio lease structure.

In a report last Friday, Phillip’s research team says it continues to like Dasin Retail Trust for its continued organic growth with its expansion in baseline revenue and improved y-o-y occupancy, with all malls reporting at 100% occupancy, as well as hardly any gaps between the lease expiry and new lease sign-ups.

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