Citi: Sets Target Price of HK$36.8 for Link REIT, Maintains "Neutral" Rating

SadMoneyMeow · 2026-03-17T12:54:12+00:00

Citi research indicates that Link REIT faced challenges in its Hong Kong retail business during the first nine months of FY2026, with an adjustment of -7.5%. The group is expected to see a 9% year-over-year decline in distribution per unit in the second half, with a target price of HK$36.8 and a rating maintained at "Neutral."

SadMoneyMeow

2026-03-17 12:54:12

Abstract generation in progress

Citigroup releases research report stating that Link REIT (00823) operational data for the first nine months of fiscal year 2026 shows that Hong Kong’s retail portfolio continues to face challenges, with the adjusted decline widening to -7.5% in the first nine months, meaning a -9.7% decline in the third quarter;

Hong Kong tenant sales decreased by 1.5% year-on-year, while retail in Mainland China still faces pressure. Both the retail sector’s adjustment decline and tenant sales growth have turned positive. The bank maintains its forecast for the group’s second-half dividend per unit (DPU) to decline by 9% year-on-year, with a target price of HKD 36.8, and a “Neutral” rating.

(Edited by: Dong Pingping)

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