Link REIT's Disposal at a Better-Than-Expected Price

Link REIT: Externalising the Externalities

Link REIT: Active Capital Recycling to Drive Unit Price Performance

Unit Price for Link REIT Capped in a Rising Interest Rate Environment

Metropolitan Plaza Acquisition Seems Expensive Despite Reversion Opportunities

Retail Sales in Hong Kong Better Than Expected, but Growth Slows

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

<p>Various media sources reported strong interest from property investors for Link REIT’s proposed disposal of 17 retail assets. Collectively, the assets are estimated to be worth HKD 15 billion, the largest of such transactions conducted by the company. It was reported 12 investor groups, including KKR, Blackstone, Citic, and Abu Dhabi Investment Authority, have submitted bids. Pending more details from the company, we maintain our fair value estimate of HKD 51, along with our narrow moat rating…</p>

Various media sources reported strong interest from property investors for Link REIT’s proposed disposal of 17 retail assets. Collectively, the assets are estimated to be worth HKD 15 billion, the largest of such transactions conducted by the company. It was reported 12 investor groups, including KKR, Blackstone, Citic, and Abu Dhabi Investment Authority, have submitted bids. Pending more details from the company, we maintain our fair value estimate of HKD 51, along with our narrow moat rating…

Selling to Institutional Investors Will Likely Result in Smaller Disposal Gains for Link REIT