大摩:降太古地產(1972.HK)目標價至27港元 每股派息有上行空間
大摩發表研究報告指,儘管預期今年太古地產(1972.HK)的盈利下降,但仍可保持每股盈利及每股派息平穩發展,因太古地產擁有強勁的資產負債表,並指出其過去五年派息比率為41%,較公司派息政策的50%為低,認為今年每股派息具上行空間,該行重申其“增持”投資評級,惟目標價由30港元下調至27港元。
大摩表示,預期隨着市場供應緊張,太古地產辦公室物業組合能維持穩定的出租率,只有15%的租約需要在今年續約,亦預期太古地產零售租金收入將會於今年下半年復甦,而其復甦幅度會較其同業強勁。
大摩續指,隨着疫情影響,零售和酒店業務的盈利下降,下調太古地產2020至2021年每股盈利預測10%至12%。
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