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《大行報告》花旗下調冠君產業信託(02778.HK)目標價至2.33元 評級「沽售」
阿思達克 08-21 10:22
花旗發表報告,引述冠君產業信託(02778.HK)管理層預計,2023財年寫字樓業務仍面對挑戰,對零售業務持審慎樂觀態度,料期內租金收入和每單位可分配收入(DPU)呈下降趨勢。受到通關和消費券的推動,上半年朗豪坊的零售表現優於香港整體市場,但整體續租租金變幅仍爲負值,其寫字樓的租用率維持穩定於93.2%。由於HIBOR走高,整體財務成本飆升至3.6%,去年底則爲2.8%。另外,受到加息及寫字樓供應增加影響,中環寫字樓租金下跌,拖累集團上半年DPU按年跌13%至9.27港仙。該行預計,由於中環的新供應激增,今年寫字樓現貨租金將繼續下降5%至10%。 該行表示,預測集團2023財年的6.7%股息收益率並不吸引,預計2022至25財年的DPU複合年增長率將爲負3%。該行維持集團「沽售」評級,目標價由2.66元下調至2.33元。
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