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<Research>BOCOMI Cuts LINK REIT's TP to HKD45.7; Interim Results Slightly Miss Due to High Base
Recommend 6 Positive 2 Negative 14 |
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LINK REIT (00823.HK) has released its interim results for FY26, showing YoY decreases of 1.8%/ 3.4% in revenue/ net property income to HKD7.023 billion/ HKD5.178 billion, mainly due to fluctuations in the retail market, high rental base, and negative rental adjustment rates in Hong Kong and Mainland, BOCOMI wrote in its research report. Supported by a lower HIBOR, LINK REIT's net financing costs dropped by 7.3% YoY. The total distributable amount was HKD3.283 billion, with a distribution per unit of HK126.88 cents, down 5.9% YoY, accounting for around 47.2% of the broker's full-year forecast. BOCOMI kept a Buy rating on LINK REIT but reduced its target price from HKD49.8 to HKD45.7. AAStocks Financial News |
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