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<Research>CICC: LINK REIT (00823.HK) Results In Line; Asset Recycling and Cost Control Support Distributions
Recommend 18 Positive 16 Negative 10 |
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CICC published a report on LINK REIT (00823.HK), which unveiled its results for FY2026, with revenue and net property income sinking 2% and 3.7% YoY to HKD13.94 billion and HKD10.23 billion, respectively. DPU faded 6.9% YoY to HKD2.54, while NAV per unit fell 8.8% YoY to HKD57.8, in line with the broker's expectations. LINK REIT's asset recycling and cost control measures are conducive to supporting future distributions, the report said. LINK REIT recently announced the sale of its retail property interest in Thomson Plaza, Singapore, at a premium for SGD250 million, and plans to use part of the disposal proceeds for unit buybacks. In addition, management intends to continue implementing cost control measures, with annual cost savings potentially exceeding HKD200 million. The broker believed these initiatives provide certain support for future fund distributions. The broker maintained its FY2027 DPU forecast at HKD2.51 and introduced a FY2028 DPU forecast of HKD2.55, representing YoY growth of 1%. It maintained an Outperform rating and kept the TP at HKD43. 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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