I also have a few of these with no tree. It seems the only possible reasons are what was mentioned above, or Ancestry have made an error.
But from what I've seen with proximity to shared matches, these people with no tree listed on the match page are correct. So there obviously is or was a tree linked at some point.
Clicking on the name of the match takes you to a profile. I'd say about 5% of the time there are a tree or trees listed there, even if none are listed on the match page. So there are obviously a few particulars about how the trees are displayed.