Yuexiu Real Estate Investment Trust (HKG:405) Shareholders Are up 9.0% This Past Week, but Still in the Red Over the Last Five Years
Yuexiu Real Estate Investment Trust (00405) issued 75 million fund units to pay the management fee.
Yuexiu Real Estate Investment Trust (00405) announced that the fund issued 75 million units on September 2, 2024...
YUEXIU REIT: Interim Report 2024
Citigroup: Maintains a Neutral rating on Yuexiu Real Estate Investment Trust, with target price lowered to HKD 1.
Citigroup issued a research report stating that it lowered the target price for Yuexiu Real Estate Investment Trust (00405) from HKD 1.1 to HKD 1, maintained a "neutral" rating, and believed that inclusion in the Shanghai-Hong Kong Stock Connect may benefit the company. Although the weak performance of Yuexiu Real Estate Investment Trust's office business was offset by the resilience of hotel, retail business, and financial costs, it is expected to take some time for the distribution per fund unit to recover. The bank stated that the office business of Yuexiu REITs continues to face pressure, and the company is managing its investment portfolio by expanding its tenant base. However, given Guangzhou Yuexiu Financial Building (82.9%) and Shanghai Yuexiu
Major bank rating: Citigroup lowers the target price of Yuexiu Real Estate Investment Trust to HK$1 and maintains a neutral rating.
Citigroup published a research report stating that while the weak performance of the office business under Yuexiu Real Estate Investment Trust Fund was offset by the resilience of hotel, retail businesses and financial costs, it is still expected to take some time for the distribution per unit of the fund to recover. The bank said that the office business of Yuexiu Real Estate Investment Trust continues to face pressure, and the company is expanding its tenant base to manage its investment portfolio. However, given the decline in rental rates of Guangzhou Yuexiu Financial Building (82.9%) and Shanghai Yuexiu Building (84.6%) and the 10% decline in Wuhan Yuexiu Fortune Center's rent on an annual basis, the bank expects that except for Guangzhou International Finance Center, the rent of other office buildings'
Citigroup: Maintains a 'Neutral' rating for Yuexiu Real Estate Investment Trust (00405), with target price lowered to HK$1.
It will take some time for Yuexiu Real Estate Investment Trust (00405) to recover and distribute dividends per unit.
