Stock Name: SUNREIT
Company Name: SUNWAY REAL ESTATE INVT TRUST
Research House: RHB
KUALA LUMPUR: RHB Research Institute is maintaining its Outperform call on Sunway REIT, with an unchanged fair value (FV) of RM1.05.
In a research , it said the FV was based on a 7% target yield on its FY12 dividend per unit (DPU) forecast of 7.3 sen.
RHB Research said Sunway REIT's 1QFY11 realised net profit of RM38.4 million was in line with its and market expectations.
'Note that, 1QFY11 earnings contribution only started since 8th July 2010. A 1.51 sen DPU was declared during the quarter, on track to meet our DPU forecast of 6.7 sen for FY11,' it said
The research house expected earnings from the remaining nine months of FY11 to come in stronger.
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