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| HSI1 | 25,238.22 | -72.99 | 144.32B |
| HSCEI1 | 8,395.01 | -55.09 | 40.78B |
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2026-09-03 11:16:37 UBS published a research report on WHARF REIC (01997.HK), which has posted its share upswing cumulatively of 17% since announcing its interim results, mainly driven by management raising the payout ratio for core net profit from Hong Kong investment properties and hotel businesses from 65% to 90%. UBS was positive on WHARF REIC's higher dividend yield and ongoing asset recycling initiatives, but considering the current price implies an FY2027E dividend yield of about 6.4%, broadly similar to LINK REIT (00823.HK)'s 6.5%, it viewed most positive factors have already been priced in. WHARF REIC has not historically had a track record of considerably enhancing shareholder returns, making the abrupt uplift in the payout ratio somewhat unusual, especially as affiliated company WHARF HOLDINGS (00004.HK) maintained its recurring dividend payout ratio at 30%. UBS raised its DPS forecasts for WHARF REIC for 2026-28 by 39-44%, and correspondingly lifted its TP by 39% from HKD23 to HKD31.7, while maintaining a Neutral rating. ~ AASTOCKS Financial News Website: www.aastocks.com | |