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<Research>UBS: LINK REIT (00823.HK) TP $42 as HK Retail Rents Remain Under Pressure
Recommend 9 Positive 13 Negative 11 |
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LINK REIT (00823.HK) updated its latest operational status at the GCC 2026, according to UBS' research report. The Company stated that, Hong Kong's retail property rents continued to face pressure, with renewal rents expected to record negative growth in 2HFY2026 ending March 2026. However, new tenant rents showed signs of stabilization. The supermarket business dragged down results, while the catering industry has stabilized. The impact of northbound consumption stabilized, but the rising e-commerce penetration rate continued to pressure tenant performance. However, less than 10% of LINK REIT's Hong Kong properties overlap with online retail models. Hence, the impact is relatively limited. Therefore, UBS reiterated rating at Buy for LINK REIT, with a target price of $42. AASTOCKS Financial News Website: www.aastocks.com |
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