《大行》花旗升九置(01997.HK)目標價至30.3元 料全年股息升3%
花旗研究報告指,預期九龍倉置業(01997.HK)全年股息將增長3%。該行指,集團財務成本有所下降,料每年去槓桿化幅度達20億至30億元,且淨負債為333億元,處於歷史低位。另外,息口顯著下降,料全年利率為4%,集團有79%債務為浮動利率,加上一個月HIBOR至今仍低於1%,預計每年可節省5億元融資成本,佔利潤的8%。
該行又指,雖然上半年租金估算錄得負增長2%,但如果次季零售銷售正面勢頭可延續,零售租金有望企穩,加上約20%的租戶成本比率有望可維持;雖然寫字樓租金持續下調,但出租率有所改善。
再者,該行認為潛在酒店翻新或重建計劃最早於2026年底動工,期間或短期拖累股息,但長期可提升資產價值。基於5%股息率及穩健的零售情緒,維持「買入」評級,目標價由25元升至30.3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.