Macquarie: Crown King's potential sale of the Langham Place building may be much higher than expected

Macquarie published a report in which it believes that Crown Reitt (02778. HK) The sale of the Langham Place building may be much higher than market expectations, maintaining the stock's "outperform the market" rating as the first investment option, with a target price of $5.51. While shares have risen 33 percent this year, outperforming the real estate and housing trust sectors, potential asset sales have lifted the stock price further.

The bank quoted Savills(savills) as acting as the agent for Crown King's sale of the Langham Place office building, pointing out that the intended price of the Langham Place office building was $24.5 billion, which was a landmark project and could have a premium of more than 30% over similar projects. Assuming that the property is sold at $20,000 per square foot, the bank is expected to see Guanjun's share price rise by 1.5 yuan from the closing price of the previous day (17th); if it is finally sold at $35,000 per square foot, the stock price will rise by an additional 1.8 yuan.

CSI Announcement Express timely discloses the announcement of listed companies, provides the information on the layout of the announcement newspaper, and the authoritative "CSI Ten Articles" news interprets the announcements of major listed companies.

China Securities News official WeChat

China Securities News legal person Weibo

Disclaimer of China Securities Network: All works indicated on this website as "Source: China Securities News and China Securities Network" belong to China Securities News and China Securities Network. China Securities News and China Securities Network jointly stated with the author of the work that no organization shall reprint, excerpt or use the above works in other ways without the written authorization of China Securities News, China Securities Network and the author. Where the source indicated on this website is not China Securities News and China Securities Network, the works are reproduced from other media, the purpose of reprinting is to better serve readers and convey the needs of information, does not mean that this website agrees with its views, this website is not responsible for its authenticity, and those who disagree should claim rights with the original source unit.