Hotel Property Investments: FY23 DPS upgrade

About the author:

Fiona Buchanan
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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