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交银国际:维持领展房产基金“买入”评级 目标价48.7港元

BOC International: Maintaining the “Buy” Rating Target Price of HK$48.7 for Lingzhan Real Estate Fund

新浪港股 ·  Mar 27 22:44

BOC International released a research report stating that it maintains the “buy” rating of Lingzhan Real Estate Fund (00823), with a target price of HK$48.7. Although overall dividends for the fiscal year ending at the end of March 2024 will still decline due to the dilution of last year's share supply, the bank believes that Linzhan's performance in the first three quarters of fiscal year 2024 has remained generally stable, and rents are expected to record moderate increases to offset the impact of rising interest rates. Meanwhile, the stock currently predicts a dividend rate of 7.7%, which is about 350 points higher than the 10-year US Treasury interest rate. I believe the stock price fully reflects concerns about retail and interest rate uncertainty.

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