《大行报告》大摩升九龙仓置业(01997.HK)目标价至50元 降置富(00778.HK)目标价至7.3元
摩根士丹利发表报告,估计去年下半年香港收租股的每股经常性盈利预测按半年下跌7%,较看好零售地产多於写字楼收租业务,指派息率是主要选股的指标。
该行指,预期九龙仓置业(01997.HK)分派会录下跌,不过派息比率会维持,决定上调对其目标价由42元升至50元;该行下调对置富(00778.HK)目标价由7.5元降至7.3元。
大摩料置地和港铁(00066.HK)虽然盈利都有跌幅,但见稳定的派息。而太古地产(01972.HK)则可有出售非核心资产支持,而见派息增长。
该行表示,去年下半年,香港收租股的经常性每股盈利按半年跌7%,主因香港零售业务的高空置率、负租金增长、租金优惠等,而办公室物业则大致稳定,当中企业搬离中环,亦只有轻微影响,不过今年影响却会见增加。
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