智通财经APP获悉，里昂发布研究报告称，维持领展房产基金(00823)“跑赢大市”评级，为反映香港消费外流，将2025至2027年盈利预测分别下调1.4%、2.3%及5.7%，目标价由45.7港元下调至45港元。虽然香港的经营环境充满挑战，领展在其他市场的投资组合却因宏观经济强劲或结构性升级而拥有良好的增长前景。
该行指出，美国联储局减息50个基点，标志着新一轮宽松政策的开始，为房托提前做好准备。利率下调应可降低融资成本及增加交易量，从而推动房托业务增长，从而带动整个行业的每单位可分配收入增长。在房托比重分布方面，该行对澳洲、新加坡及印度的比重为“增持”;对马来西亚、日本及菲律宾的比重为“中性”;对香港的比重为“减持”。考虑到零售和办公室市场的不确定性，该行建议香港房地产投资信托基金保持谨慎态度。
在房托市场中，看好CapitaLand Integrated Commercial EmbassyReit(CICT.SP)、Goodman(GMG.AU)、IGB Reit(IGBREIT.MK)、领展房产基金 、RL Commercial Reit(RCR.PM)。
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