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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Link Real Estate Investment Trust    823   HK0823032773

LINK REAL ESTATE INVESTMENT TRUST

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Link Real Estate Investment Trust : REIT Buys Acquires Sydney Office Tower for A$683 Million

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12/19/2019 | 05:41am EST

By Yifan Wang

Link Real Estate Investment Trust (0823.HK) has acquired an office tower in Sydney from certain funds managed by Blackstone Group Inc. (BX) for 683 million Australian dollars (US$468.1 million).

The deal represents the start of Link REIT's plan to grow exposure outside of Hong Kong and mainland China as it seeks to reduce dependency on its home turf and diversify to major developed markets such as Australia, Singapore, Japan and the UK.

The latest acquisition represents approximately 1.7% of the total assets of Link REIT as at 30 September 2019. Link plans to fund the deal through bank loans and internal resources, it said in a statement on Thursday.

"A more diversified portfolio with overseas properties providing new sources of income will help ease our reliance on Hong Kong properties to generate income progression," said George Hongchoy, chief executive.

Write to Yifan Wang at yifan.wang@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
LINK REAL ESTATE INVESTMENT TRUST -0.07% 74.05 End-of-day quote.0.68%
THE BLACKSTONE GROUP INC. 1.03% 53.84 Delayed Quote.-4.74%
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Financials (HKD)
Sales 2020 10 766 M
EBIT 2020 7 743 M
Net income 2020 5 920 M
Debt 2020 25 256 M
Yield 2020 4,02%
P/E ratio 2020 24,9x
P/E ratio 2021 23,3x
EV / Sales2020 16,2x
EV / Sales2021 15,1x
Capitalization 149 B
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Technical analysis trends LINK REAL ESTATE INVESTMEN
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 89,56  HKD
Last Close Price 72,20  HKD
Spread / Highest target 43,9%
Spread / Average Target 24,1%
Spread / Lowest Target 1,11%
EPS Revisions
Managers
NameTitle
Kwok Lung Hongchoy Chief Executive Officer & Executive Director
Nicholas Charles Allen Chairman
Chi Ping Wu Director-Operations & Property Management
Hubert Chak Finance Director
Kok Siong Ng Chief Financial Officer & executive Director
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