KUALA LUMPUR (April 26): Maybank Investment Bank Bhd Research has maintained Buy on Sunway REIT with a target price of RM1.40 and said Sunway REIT’s 9MFY6/12 core net profit of MYR142.5 million accounted for 75-77% of its own and consensus full-year estimates.
Sunway REIT declared 1.9 sen dividend per unit (DPU) for 3Q (YTD: 5.6 sen) was also in line.
“No change in our earnings forecasts and MYR1.40 TP. Potential surprises could come from new asset injections (e.g. colleges) which gear towards providing a stable income stream,” the research house said on Thursday.