FortuneREIT

FortuneREIT: Rev stable at HK$205.7m compared to 2Q, +0.5%qoq, +22.9%yoy. Distributable income came in at HK$96.2m, a dip of -2.1% from 2Q, +18.5% yoy. The DPU for 3Q was 5.76c HK compared to 5.86c in prev quarter. DPU was 18.03c compared to 29.35c yoy, decline was due to the rights issue. B/s is solid as co funds acquisition through equity and has no LT debt. Yield at current price HK$4.08 and annualized DPU is at 5.88% and NAV is at HK$5.67.