Link REIT's Full-Year Results in Line, DPU Growth Slowing
Link Real Estate Investment Trust reported fiscal 2018 results with a distributable amount of HKD 5.4 billion, up 7% year on year. Without the discretionary distribution, distributable income was HKD 5.3 billion, slightly below our estimate of HKD 5.4 billion. Full-year distributions per unit totaled HKD 2.4978, up 9% year on year as buybacks reduced units outstanding by 3%. Core earnings and distributable income were largely in line. We maintain our HKD 64 fair value estimate and narrow moat ra...Link Real Estate Investment Trust is a collective investment scheme constituted as a unit trust that invests primarily in retail and carpark operations.
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