匯豐環球:領展(0823.HK)最壞時期已過 維持買入評級
匯豐環球研究發表報告指,領展(0823.HK)在疫情期間,其中一個目標是維持高出租率及穩定租户組合,在九月底公司出租率96.1%,其物業組合繼續吸引零售商,自4月已有超過200個新租户,同時公司亦有提供租金優惠措施超過6億元,上半財年公司香港零售組合續租租金跌2.6%,相信會大致維持穩定,當租户表現改善後,料續租表現將會轉為正面。
報告又指,相信領展最壞時期已在上半財年過去,預計下半財年派息將會改善,在海外物業貢獻下,將會減輕租金優惠措施影響,同時內地零售業務亦已見回正常。
匯豐維持領展買入評級,目標價82.2港元,領展2020年9月底每股賬面值74.6港元,現價相等於2021財年預測股息率4.4%。

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