华泰证券:建议关注运管能力强、业绩持续增长的头部消费REITs

格隆汇
Sep 05
据华泰证券,当前REITs市场正处于供需格局从"供给冲击"转向"需求驱动"的关键拐点。8月指数区间震荡、先跌后稳,产业园超跌修复,消费受社零低于预期拖累回调。中报披露机构投资者占比升至97.44%,原始权益人与券商自营主导持仓格局延续。近期估值持续调整,整体已回落至上市以来偏低区间,分派率被动抬升,风险收益比改善,配置机会或逐步显现。建议关注运管能力强、业绩持续增长的头部消费REITs,数据中心REITs扩募持续推进可逐步布局,部分高速受益于路网利好,产业园、仓储大租户续租"靴子落地"后可关注基本面好转。

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