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大和:润地(1109.HK)租金及地产销售仍强劲 重申买入评级
格隆汇 03-27 13:57

大和发表研究报告指,华润置地(1109.HK)去年核心盈利按年升12.2%至217亿元(人民币.下同),总租金收入按年升26.3%至120亿元,而未入帐的合同销售额达2240亿元,对今、明两年盈利而言将是好兆头,重申其“买入”评级,惟下调目标价由44.2港元降至42.8港元。

大和相信,润地正雄心壮志地扩大其内地商场业务,其中4个商场租户零售额达40亿元,7个商场租户零售额则介乎20-40亿元。尽管新冠状病毒疫情对商场业务明显带来打击,但过去数周已回复到正常水平的6至8成,公司目标是到第二季全数复苏。该行又指,公司除武汉市外,大部分的工地及售楼处已复工,其房地产销售有望回返正轨。

大和将润地今、明两年每股盈利预测下调5-6%,以反映疫情对商场及酒店业务的影响,同时下调今年每股资产淨值预测至53.5港元。

不过,富瑞则预期,润地今年销售及租金收入增长将分别有15%及13%潜在下跌风险,惟估计分拆物管业务或会成为公司主要亮点,重申“买入”评级,并维持目标价42.59港元。

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