大行评级|摩根大通:太古地产第四季度租户销售转正 予“增持”评级

格隆汇
10 Feb

摩根大通发表报告指,太古地产内地零售租户销售由去年首三季的按年跌10%收窄至全年的按年跌7%,意味去年第四季按年增3%。香港写字楼依然疲软,不过续租租金的负面幅度靠稳。至于盈警,期内盈利大幅倒退,主要是因为投资物业的公允价值亏损,经常性盈利按年跌11%应属投资者预期之内。

该行指,太古地产依旧是该行在行业中其中一个主要“增持”的公司,原因有三,一是内地租户销售应在今年首季及次季进一步改善;二是盈利增长受益于发展项目或在2025年复苏,应可为每股股息持续的中单位数增长带来支持;三是因为稳定的股份回购。

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