Interim results preview
SF REIT will announce its FY22 interim results on 18 Aug. We estimate its distribution income to reach HK$107m. This should translate to a DPU of HK$0.1336.
Total revenue is expected to be HK$196m. The Tsing Yi property should see improved occupancy, thanks to new lettings. Meanwhile, occupancies at both the Wuhu and Foshan properties should stand firm. With the NPI margin estimated at 79.4%, net property income should be recorded at HK$156m.
Key things to watch out for include leasing demand, occupancies and rental reversions/increments for the properties, % of SF-connected tenants, and interest cost hedging, among others.
