星展发布研究报告称,即使计及股息重置,恒隆地产(00101)股息率仍达8.6%具吸引力水平,如此低的估值并不合理,这为押注中国奢侈品零售市场的长期价值投资者,提供一个很好的吸纳机会。该行将目标价由7.56港元下调至7.09港元,给予“买入”评级。
报告中称,虽然去年恒隆地产豪华购物商场的整体租户销售额有所下降,但零售业的续租租金增长仍维持在正值区间,有助于抵销营业额租金的缺口。另外,杭州恒隆广场(Westlake
66)已接近竣工,预计将在中期内推动恒隆地产的租金收入增长。
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