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2026-11-12 14:17:04 JPMorgan said in a report that LINK REIT (00823.HK)'s interim distribution per fund unit rose 0.3% YoY to HKD1.2725, in line with the broker's expectations and management's guidance of maintaining stable distribution per unit. Despite a 1.6% YoY decline in revenue, the mild growth in distribution per unit mainly reflected cost savings. JPMorgan said it was encouraging that Hong Kong tenant sales turned slightly positive in the second fiscal quarter ended September, with the broker estimating YoY growth of about 0.7%. The portfolio reversion rate for 1HFY was negative 7.5%. Management maintained its full-year guidance. The broker believes the key question is whether the negative reversion rate in FY2028 can narrow, as management's outlook for FY2027 earnings was not exciting, with FY2027 earnings expected not to exceed FY2026 levels. JPMorgan added that it was encouraging that LINK REIT (00823.HK) plans to repurchase HKD1 billion to HKD2 billion worth of fund units in 2HFY2027, equivalent to 1% to 1.9% of its market capitalization. The broker believes the required funding will mainly come from proceeds from two recent asset disposals. (ad/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese 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. | |