智通财经APP获悉，星展发布研究报告称，维持置富产业信托(00778)“买入”评级，目标价降至4.95港元，相信其最坏时间已过。
置富投资组合出租率维持稳定于95%水平，去年6月为94.8%。当中置富都会出租率达87.1%，而+WOO嘉湖达93.4%。由去年第三季起，置富的整体租户销售同比跌幅开始收窄，当中以超市租户情况尤为明显。加上幼稚园及地产经纪租户到期租金下降，意味着今年租金重估前景将逐步改善。
该行提及，由于资本开支需求高过预期，置富推迟原定于去年第四季进行的红磡置富都会升级项目。虽然预期香港银行同业拆息(HIBOR)有所下降，但公司估计今年现金融资成本将保持平稳。
此外，该行认为置富2024及2025年的分派收益率约为8.8%至8.5%，相信房地产信托基金(REITs)获纳入互联互通机制的任何积极进展，都能提振市场对该板块的信心，另市场对减息放缓的忧虑已很大程度上已反映在股价中。
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