Morgans concludes from 1H results for Hotel Property Investments that both the portfolio and balance sheet remain in a solid position.

Underlying rental income rose 21.2% on the previous corresponding period after rent increases of 3.5% (on a like for like basis) and income from new acquisitions.

FY22 DPS guidance remains 20.5cps, and after making minor changes to forecasts, the broker maintains an Add rating and lifts its target to $3.84 from $3.70.

Sector: Real Estate.

Target price is $3.84.Current Price is $3.65. Difference: $0.19 - (brackets indicate current price is over target). If HPI meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena