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<Research>Citi: LINK REIT FY26 DPU In Line; Rating Neutral
Recommend 22 Positive 26 Negative 14 |
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LINK REIT (00823.HK)'s DPU for FY2026 declined 6.9% YoY to HKD2.5361, in line with expectations (Citi and market forecasts were HKD2.52/ HKD2.53). Negative rental reversion in Hong Kong and Mainland China retail renewals led to a 3.7% decline in overall net property income, Citi said in its report. However, a 6% decrease in financing costs, together with a 9% savings in G&A expenses, offset part of the decline. Based on today's (28th) midday closing price of HKD39.7, the dividend yield stands at 6.38%. In its outlook, LINK REIT's management stated that over the coming year it plans to maintain earnings stability and safeguard distribution performance through divestment of non-core assets and accelerated fund unit buybacks. The broker maintained a Neutral rating on LINK REIT with a TP of HKD36.8. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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