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《大行報告》高盛:恆隆地產(00101.HK)中期基本純利受人幣貶值拖累 租戶銷售和租賃趨勢仍健康
阿思達克 08-02 15:44
高盛發表研究報告指出,恆隆地產(00101.HK)中期純利24億元,剔除2.51億元物業重估收益後,基本盈利按年持平至22.3億元,略低於該行及市場預期,主要受累於人民幣按年貶值6%、缺乏住宅物業預訂,以及利率上升導致借貸成本上升的影響。中期息維持18仙。 此外,該行指恆隆地產租戶銷售和租賃趨勢仍健康,公司租金收入由去年下半年的按年跌6%,加速至今年上半年按年升5%,其中租戶銷售及租金收入以人民幣計按年各增長42%及13%。香港方面,經過多年的下滑後,租金按年溫和增長4%,租戶銷售反彈22%,略為跑贏香港零售市場。 該行認為,考慮到最新的外匯及今年迄今的租金增長,將恆隆地產2023至2025財年的基本每股盈利預測下調2%至7%,對其目標價由21.2元下調至18.3元,維持「買入」評級。
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