HPI – Morgans rates the stock as Add

To partially fund two acquisitions, Hotel Property Investments has completed an underwritten institutional placement raising $50m at $3.40 and has launched a share purchase plan to raise up to $10m.

The company will pay -$38.8m to its major tenant QVC for 249 gaming licences. FY22 DPS guidance of 20.5c remains unchanged. After allowing for the above changes, Morgans adjusts its target price to $3.56 from $3.58 and retains its Add rating.

Sector: Real Estate.


Target price is $3.56.Current Price is $3.44. Difference: $0.12 – (brackets indicate current price is over target). If HPI meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).



About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →