Added to YB: 2025-01-28
Pitch date: 2025-01-25
0778.HK [neutral]
Fortune Real Estate Investment Trust
+34.49%
current return
Author Info
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Company Info
Established in 2003, Fortune REIT is a real estate investment trust constituted by a trust deed (as amended, supplemented or otherwise modified from time to time).
Market Cap
HKD 8.2B
Pitch Price
HKD 3.70
Price Target
N/A
Dividend
9.06%
EV/EBITDA
N/A
P/E
-17.14
EV/Sales
10.13
Sector
Retail REITs
Category
value
FORTUNE REIT - $0778.HK
0778.HK (better options available): 10% yield, 72% NAV discount. 17 malls (16 HK, 1 SG). Challenges: Shenzhen competition, lower footfall/spend. 20-30% rent cuts needed. Risks: proximity to mainland, potential capex for experiential features. Well-managed but questionable governance. Alternatives: SF REIT (industrial), Hysan/Wharf (retail), Link REIT (HK retail).
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