Wharf REIC Could Gain from Retail-Rent Turnaround, Asset Sale
Dow Jones
Aug 07
0550 GMT - Wharf Real Estate Investment could get a boost from improving retail rents and potential sale of its Singapore asset, Citi says. The bank expects Hong Kong retail rents to rise from 2027 as sales continue to outpace the broader market, helped by stronger luxury demand, they say in a note. The company is evaluating the disposal of Scotts Square, its sole Singapore asset, valued at around 1.6 billion Hong Kong dollars. Those catalysts, together with a new 90% dividend payout ratio, could boost Wharf REIC's stock, Citi says. Citi raises its target price to HK$36.00 from HK$31.60 and maintains a buy rating. Shares rise 5.9% to HK$31.78.
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