Data from Sasseur REIT’s latest results have been updated into the Singapore REITs table.
Sasseur REIT has reported distributable income of SGD21.2 million for its 3Q 2020, a 16.9% increase from SGD18.2 million in 2Q 2020.
Accordingly, Sasseur REIT has declared a distribution per unit (DPU) of 1.764 cents for the period, 16.7% higher than 2Q 2020.
Total DPU for the nine months ended 30 September 2020 at 4.610 cents is 6% lower than the DPU of 4.904 cents for the corresponding period in 2019.
During the quarter, shopper traffic has rebounded strongly, lifting sales across Sasseur REIT’s four outlet malls to RMB 1.1 billion for 3Q 2020, said the REIT.
This is a 32.9% increase from 2Q 2020.
Sasseur REIT’s portfolio occupancy rate for 3Q 2020 remained stable at 93.1%.
In addition, total VIP members of the four malls have increased to 1.96 million as of 30 September 2020, 23.4% higher than at the end of 2019.
The REIT’s aggregate leverage was at 27.8%, with cost of debt at 4.1%
Sasseur REIT was last done on the SGX at 0.795, which implies a distribution yield of 8.88%, according to data compiled on the Singapore REITs table.