《大行報告》瑞信微降新地(00016.HK)目標價至129.4元 評級「跑贏大市」
瑞信發表研究報告指,新地(00016.HK)的上半年基本利潤按年下降36.1%至94.7億元,房地產開發利潤按年下降56%,主要是由於大多數2023財年出售的香港住宅項目計劃於下半年交付。上半年股息持平於1.25元。全年派息指引維持4.95元,意味著收益率為4.6%。管理層對2023財年合約銷售目標維持在350億元。管理層預計,內地的銷售額將因為更多可售資源而增至50億元。
該行又提到,新地於本港的零售租金收入按年微跌0.9%;寫字樓租金收入按年跌3.8%,平均出租率為93%。由於疫情影響和人民幣貶值,內地零售租金按年降20%。
該行認為,集團在香港擁有穩固的項目儲備及強大的投資物業組合,惟內地市場仍存在不確定因素,將其2024及25年的盈測分別下調5%和1%,維持「跑贏大市」評級,目標價由130.7元微降至129.4元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.