[ET Net News Agency, 13 March 2018] HSBC Global Research cut its target price for Hui
Xian REIT (87001) to RMB4.05 from RMB4.2, and reiterated its "buy" rating.
The research house said Hui Xian REIT in FY2017 continued to see strength in its office
rental segment while the retail segment remained largely flat. The P&L metrics and
distribution were negatively impacted by the change in real estate tax rules for Beijing
Oriental Plaza.
HSBC believes that, in Beijing, leasing demand remains resilient and is driven by
domestic corporations including financial and TMT companies, where office occupancy
remained high at 95.5% with passing rent growing at 4% y-y in FY2017. But the retail
environment for HX REIT remains challenging.
HSBC revised down its DPU estimates in FY2018/19 by 4%/3% to RMB0.272/0.286/share, to
reflect the lower rental revenue forecast, offset by lower net interest expenses and a
higher payout ratio. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
87001 HUI XIAN REIT
Nominal 
0.650 0.000 (0.000%) Others
13/03/2018 12:14
[I-bank focus]HSBC cuts Hui Xian REIT (87001) to RMB4.05
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |