智通财经APP获悉,花旗发布研报称,维持新鸿基地产(00016)“买入”评级,目标价由88.5港元微升至88.8港元。该行预测全年每股股息为3.8港元,即股息率5.1%,尽管中期息持平,该行认为新地是香港住宅市场的代表,并受惠于稳定的利率展望。
花旗指,新鸿基地产对前景持谨慎乐观态度。现金流预计在40至50%的股息支付、新投资以及降低负债比率的目标之间取得平衡,并通过控制资本支出实现这一目标。公司一贯展现出资产周转能力,这一点至关重要,因为其计划推出大量新项目(10个月内估计约4,000个单位)及持有已落成但未售出的库存(估计约3,500个单位)。
该行预计新地2025财年利润将持平,受惠于高利润率的预售项目及土地收回,但受到天玺.天项目10亿港元拨备的影响。2026/27财年则将受惠于强劲的投资物业项目推动租金收入,抵消低利润率发展物业完工的影响。
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