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《大行報告》花旗降置富(00778.HK)目標價至5.72元 股息率約9厘
阿思達克 03-07 12:09
花旗銀行發報告,將置富產業信託(00778.HK)目標價由6.05元下調5.5%至5.72元,評級維持「買入」。 花旗預期香港銀行同業拆息(HIBOR)下降,以及整體租金向上,可令置富產業2024年的每股派息(DPU)保持穩定,預計股息率約為9%。該行又認為置富置業的投資組合具有韌性,並受惠本地零售業的穩定復甦,以及預期今年下半年美國聯邦基金利率下調。 置富產業去年底的出租率輕微提升至94.4%,租戶續租率為83%。餐飲、服務、時尚和鞋類業務的租務表現較好,但幼兒園和房地產代理租務情況向下,其中地產代理的貢獻從一年前的12%下降到8%。隨著2024年36%的租約到期和物業代理比例的顯著下降,預計今年租金收入將輕微增長0.6%。 花旗又預計,置富產業在2025年10月前無債務再融資需求,已有62%的利息成本得到對沖,預計在HIBOR已見頂的情況下,未來利息支出將保持穩定。
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