Initiating Coverage on Narrow-Moat-Rated Champion REIT With 1-Star Recommendation
We initiate coverage on narrow-moat-rated Champion Real Estate Investment Trust, or Champion REIT, with a fair value estimate of HKD 4 and a 1-star recommendation. The trust has two assets: Three Garden Road in Hong Kong's Central Business District and Langham Place, a mixed-use office, retail, and hotel complex in Mongkok, Kowloon.We view the two assets as high-quality, and our 1-star recommendation is based on a valuation perspective and reflects the low likelihood of a potential sale of the ...
Champion Real Estate Investment Trust and its subsidiaries are engaged in owning and investing in income-producing commercial properties in Hong Kong with the objective of producing stable and sustainable distributions to unitholders and to achieve long term growth in the net asset value per unit.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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