Link Real Estate Investment Trust
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$81.00 | Skgn | Nzdmgxvcfl |
Link REIT: Growth Through Acquisitions
Business Strategy and Outlook
Link REIT is one of the world’s largest retail-focused REITs. Its portfolio contains 152 properties spanning across Hong Kong, mainland China, Australia, and the United Kingdom. The Hong Kong retail properties make up over 50% of portfolio value. Its retail space in Hong Kong can be categorized into three subsegments. Destination, or flagship properties are malls with enhanced trade mix and unique branding while community malls are midsize, serving as local community hubs. Smaller properties are at a neighborhood level, providing essential goods and services for daily living. With the majority of its overall portfolio in community and neighborhood malls, Link is a dominant player in the more resilient district center-type assets.