太古地产：高端商业标杆派息筑底防御、扩张蓄势成长

中金公司2025-07-28

首次覆盖太古地产（01972）给予跑赢行业评级，目标价23.80 港元，目标价基于NAV 折让30%给出，对应2025 年目标股息收益率4.9%。我们认为每股派息稳步提升下的“价值”属性与资本开支逐步释放价值的“成长”属性为太古地产提供长期配置价值。理由如下：香港及内地持有型物业资产质量优，长期回报稳健。太古地产旗下核心持有型物业组合涵盖香港大型综合社区、以及内地地标型商业综合体，其中香港办公楼及...

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太古地产：高端商业标杆 派息筑底防御、扩张蓄势成长

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太古地产：高端商业标杆派息筑底防御、扩张蓄势成长