《大行》花旗:領展(00823.HK)分派略超預期 收益率達6.6厘
花旗發表報告指,領展(00823.HK)2025財年每單位分派按年增長3.7%至2.7234元,較該行預估的2.6956元高出1%。以其中午收盤價41.4元計算,收益率為6.6%。整體而言,收入按年增長4.8%,物業收入淨額按年增長5.5%,可分派收入按年增長4.6%,主要受以下因素推動:(1)一次性有利稅務解決方案(按年節省10億元),(2)上海七寶零售物業全年貢獻,(3)融資成本節省(按年節省2億元)。投資組合表現符合預期,但香港零售續租租金重訂因市場挑戰轉為負2%。評級為「買入」,目標價47.82元。
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