UOB Kay Hian Research Articles

Sunway REIT: 3QFY17: Within Expectations

UOBKayHian
Publish date: Thu, 04 May 2017, 09:56 AM
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(SREIT MK/BUY/RM1.71/Target: RM1.85)

9MFY17 core net profit grew 5.9% yoy, driven by resilient retail performance, offsetting the weaker hotel segment. The office segment improved further during the quarter, thanks to higher occupancy at Sunway Putra Tower. A 2.4 sen dividend was declared during the quarter, bringing 9MFY17 dividend to 6.9 sen. Maintain HOLD. Target price: RM1.85. Entry price: RM1.67.

Source: UOB Kay Hian Research - 4 May 2017

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