[ET Net News Agency, 5 February 2021] Citi Research lifted its target price for Fortune
REIT (00778) to HK$8.88 from HK$8.82 and maintained its "buy" rating.
The research house views Fortune REIT's portfolio as resilient, and it should benefit
from a potential retail recovery from COVID-19 vaccinations throughout 2021. With the
earlier-than-expected payout ratio lift back to 95% in FY2020 (from 90% in 1H 2020), Citi
believes the DPU (distribution per unit) has already bottomed in 2020 (-8%).
Citi expects +1.0%/+6.7% DPU growth in FY2021/22 based on 95%/100% payout as retail
outlook gradually improves once COVID-19 concerns removed, with an estimated 4% DPU CAGR
in 2021-24. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00778 FORTUNE REIT
Nominal 
3.740 -0.060 (-1.579%) Others
05/02/2021 17:20
{I-bank focus}Citi tweaks Fortune REIT (00778) to HK$8.88
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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