DBS Bank: Raises Target Price of Link Real Estate Investment Trust (00823.HK) to HK$46.3, Distributable Income Slightly Exceeds Expectations

According to the Wisdom Financial APP, DBS released a research report stating that Link REIT (00823.HK) is expected to increase its distributable income by 4.6% to 7 billion Hong Kong dollars in the 2025 fiscal year, which is 3.7% higher than forecasted. The rental growth rate for the investment portfolio has turned negative (-2.2%). The bank stated that the population growth driven by Hong Kong government policies indicates a long-term positive trend for non-free retail industry, which will support the long-term development of real estate investment trusts. In addition, with its large market value, high liquidity, and solid profit situation, Link Reit may be included in the "Connectivity" mechanism, which will enhance market investment willingness. The bank maintains a "buy" rating with a target price raised from 41.65 Hong Kong dollars to 46.3 Hong Kong dollars.