该行预计，2024财年全年每单位分派(DPU)同比跌13%，主要由于旗下花园道三号的续租租金仍持续取得负增长，2025财年到期租约续租情况是关键；朗豪坊办公大楼空置率增长6.2个百分点至12.9%，受累美容及旅游业复苏缓慢，部分租户缩减规模；今年上半年平均财务成本高达4.2%，浮息贷款占比达65%；朗豪坊商场表现具有韧性，基本租金较高及租户重组。Champion Real Estate Investment Trust (02778) fell by nearly 3%, as of the time of publication, it fell by 2.69% to 1.81 Hong Kong dollars, with a turnover of 2.1763 million Hong Kong dollars.
According to the Wisdom Financial APP, Champion Real Estate Investment Trust (02778) fell by nearly 3%, as of the time of publication, it fell by 2.69% to 1.81 Hong Kong dollars, with a turnover of 2.1763 million Hong Kong dollars.
Citigroup released a research report stating that based on the long-term negative performance of office buildings and persistently high interest rates, it is expected that the DPU of Champion Real Estate Investment Trust in the fiscal year 2024 will decrease by 13% year-on-year, while the DPUs of the fiscal years 2025 and 2026 will each decrease by 4% year-on-year. Considering the continued decline in DPU, the bank has lowered the target price of Champion to 1.5 Hong Kong dollars from 1.59 Hong Kong dollars and assigned a 'sell' rating.
The bank expects that the full-year Distribution per Unit (DPU) for the fiscal year 2024 will decrease by 13% year-on-year, mainly due to the continued negative growth in rental renewals at No. 3 Garden Road, with the renewal situation of expiring leases in the fiscal year 2025 being crucial; the vacancy rate at Langham Place Office Tower increased by 6.2 percentage points to 12.9%, affected by the slow recovery of the beauty and tourism industries, and some tenants reducing their scale; the average financial cost in the first half of this year reached 4.2%, with floating-rate loans accounting for 65%; Langham Place Mall has shown resilience, with relatively high basic rents and tenant restructuring.
