Sasseur Real Estate Investment Trust (Sasseur REIT)

On a like-for-like basis, the REIT’s DPU for the 4QFY2021 would have been 7.4% higher at a record 2.079 cents.

The REIT has elected to retain $1.0 million for AEIs and working capital requirements for the 3QFY2021.

Despite the downgrade, KGI has upped its target price estimate to 97 cents from 89 cents previously.

Tan is presently the senior strategic adviser to the group’s chairman Vito Xu

Units in Sasseur REIT closed 0.5 cent higher or 0.6% up at 80 cents on Nov 19.

This brings the REIT’s 1H20 DPU to 2.846 cents, some 12% lower than the DPU of 3.264 cents in 1H19.

As Singapore gradually reopens from its circuit breaker measures, DBS analyst Derek Tan and its Singapore research team believe that retail REITs are the “preferred” sector due to earlier-than-anticipated mall openings.

Total outlet sales for 1Q20 fell 55.7% to RMB 534.5 million (S$106.8 million), due to the operational disruptions and temporary closures arising from the Covid-19 pandemic.

Frasers Centrepoint Trust, Sasseur REIT and Oxley Holdings are among the stocks to watch this week.

All four outlet malls in Sasseur REIT’s portfolio reopened around mid-March. And shoppers have come flocking back.