交银国际发布研报称,领展房产基金(00823)现时2025年股息率达8%,较美国10年国债息率高约360点子,相信股价已充分反映零售及利率环境的不确定性。该行维持目标价47.7港元和“买入”评级,指股价回调提供买入机会。该行已更新财务模型和预测,以反映集团发布的2025年3月底止前9个月的运营更新。
报告指,截至2024年12月,香港零售物业出租率维持在97.1%高位。2024年4-12月,续租租金录得低单位数下降,租售比约为13.1%,比2024年4-9月有所下降,公司表示这可能预示北上消费对零售市场的影响开始稳定下来。
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