Hotel Property Investments: FY23 DPS upgrade

About the author:

Author name:

By Fiona Buchanan

Job title:

Co-Head of Research, Senior Analyst

Date posted:

01 June 2023, 8:00 AM

Sectors Covered:

Property, AREITS

• Hotel Property Investments (ASX:HPI) has upgraded FY23 DPS guidance to 18.6c (vs 18.4c previously). On this basis, the June distribution is expected to be 9.4cps (implied FY23 distribution yield 5.4%).
• HPI has also finalised two acquisitions, increased its hedging, refinanced some bank debt and reinstated its DRP which was suspended for the interim distribution.
• We retain an Add rating with a (login to view) price target.

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