大和降富豪产业信托(1881.HK)目标价至2.07港元下调评级至“持有”
大和发表研究报告称,富豪产业信托(01881.HK)前景的不确定性增加,故下调对其目标价及评级,目标价调低21%,由2.62港元降至2.07港元,评级由“跑赢大市”下调至“持有”。

该行指出,集团上半年可供分派收入同比下降4.2%,每基金单位分派下降8.1%至0.068港元,反映其酒店业务表现由6月开始转差,趋势在7月开始加速,且近期有机会持续,也将影响集团2019至2021年的每基金单位分派。
该行表示,由于集团旗下酒店今年仍有固定租金,故经营环境恶化的影响在2020年将更大。集团旗下酒店的价格合理,基本上无入住率的问题。集团过去几年扩大酒店组合的规模,若香港酒店业前景改善,相信其处于有利位置,不过这未完全得到市场的认可。
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