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Easing China headwinds, strength in EMA structure keep Sasseur REIT a 'buy'

Samantha Chiew
Samantha Chiew8/16/2022 10:43 AM GMT+08  • 5 min read
Easing China headwinds, strength in EMA structure keep Sasseur REIT a 'buy'
Analysts are positive on Sasseur REIT's outlook. Photo: Albert Chua/ The Edge Singapore
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Analysts are positive on Sasseur REIT following its recent 1HFY2022 ended June results announcement, which saw distribution per unit (DPU) grow by 1.1% y-o-y to 3.410 cents from 3.373 cents a year ago. This is the REIT’s highest 1H period DPU in four years.

While 2QFY2022’s DPU was 1.6% lower y-o-y at 1.588 cents, due to the impact of widespread Covid-19 lockdowns in a few major Chinese cities from mid-March to end-May, as well as restrictions on intercity travels weighing on consumer sentiments, leading to lower y-o-y shopper traffic and sales in 2QYF2022 at most of the REIT’s outlets.

Despite the ongoing restrictions in China, Maybank Securities is keeping its “buy” recommendation with an unchanged target price of $1.08.

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