DBS Reaffirms Their Buy Rating on Wharf Real Estate Investment Co (WRFRF)

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In a report released today, Jeff Yau from DBS maintained a Buy rating on Wharf Real Estate Investment Co (WRFRFResearch Report), with a price target of HK$27.40. The company’s shares closed last Monday at $2.53.

Yau covers the Real Estate sector, focusing on stocks such as Far East Consortium International, Link Real Estate Investment, and Sunlight Real Estate Investment. According to TipRanks, Yau has an average return of -6.9% and a 22.22% success rate on recommended stocks.

Currently, the analyst consensus on Wharf Real Estate Investment Co is a Moderate Buy with an average price target of $3.75, representing a 48.22% upside. In a report released on June 28, HSBC also maintained a Buy rating on the stock with a HK$36.60 price target.

WRFRF market cap is currently $7.75B and has a P/E ratio of 12.74.

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Wharf Real Estate Investment Co (WRFRF) Company Description:

Wharf spun off Wharf Real Estate Investment Co in November 2017. WREIC is now a leading property investor in Hong Kong, with a focus on prime retail assets. Rental income, mostly from two flagship malls, accounts for 95% of the company’s operating profit, while the hotel operation contributes the remaining 5%. The company holds a few projects in China that it expects to wind down or dispose of over the next few years.Wharf was originally a shipping company, but transformed into a property developer and investor in the 1960s by redeveloping its unused industrial assets, many located in city-center or waterfront locations. Wheelock previously held a 55% stake in Wharf; following the spin-off, Wheelock now holds a 66% stake in WREIC after recent rounds of share acquisition.