SEHK:435REITs
Sunlight REIT (SEHK:435) Stock Faces Rich P S Multiple And Continuing Losses
Sunlight Real Estate Investment Trust slipped 1.9% over the past week coming into this earnings print, yet the headline story is not the share price. The trust is still posting losses on a trailing 12 month basis with earnings from continuing operations of HK$227.3 million in the red, and that is where the real tension sits for holders who bought into a steady Hong Kong retail and office income story.
The expectation gap is clear. The stock trades on a rich price to sales ratio of 5.2x versus...