-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：MAA公布2026年第一季度核心FFO为2.13美元，与市场预期一致，但低于2025年第一季度的2.20美元，总收入与上年持平，为5.537亿美元。同店净营业收入同比下降1.3%，支出增速超过收入增速，但综合租赁率环比改善，从2025年第四季度的-1.7%降至-0.3%。该信托在阳光地带的业务持续面临新的供应压力，但市场消化速度超过供应速度。MAA近期面临一些不利因素，预计每股核心FFO为8.37美元至8.69美元（中值为8.53美元）。管理层维持对2026年全年同店净营业收入增长的预期，预计为-1.7%至+0.3%，反映出短期内持续存在的不利因素，但预计环比将有所改善。在建项目总计1,788个单元，预计成本为6.225亿美元，同时资产负债表状况依然稳健，净债务与EBITDA比率为4.5倍，流动资金为8.392亿美元。鉴于该信托基金已连续129个季度派发股息，且核心FFO派息率为71.8%，我们认为4.7%的股息收益率仍然具有吸引力。
Related Articles
Asia
Electro Optic Systems Reports Contract Backlog Growth as of March 31
Electro Optic Systems Holdings (ASX:EOS) reported a contract backlog of AU$518 million as of March 31, up 13% from the end of 2025, according to a Thursday filing with the Australian bourse.The company closed the March quarter with unrestricted cash holdings of AU$95.1 million, representing a decrease of AU$11.8 million from the end of 2025, per the filing.
$ASX:EOS
Asia
Regis Healthcare Expects Fiscal 2026 Underlying EBITDA at Top End of Guidance
Regis Healthcare (ASX:REG) said it expects fiscal 2026 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) of about AU$135 million, at the top end of guidance, according to a Thursday Australian bourse filing.Occupancy across mature homes averaged about 96% in the fiscal third quarter, per the filing.The company said it generated net refundable accommodation deposit (RAD) cash inflows of AU$44.5 million in the third quarter, taking the total net RAD cash inflows for the year to date to AU$223 million.As resident turnover occurs, the progressive repricing of existing paid-up RADs to current advertised room prices is expected to generate net operating cash inflows of about AU$400 million over time while also increasing RAD retention earnings, the company added.
$ASX:REG
Research
Research Alert: CFRA Keeps Hold Opinion On Shares Of Mondelez International
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $63, raised $1, reflects a 19x multiple of projected 2027 EPS, in line with MDLZ's historical forward P/E average. We raise our 2026 EPS estimate by $0.06 to $3.08, but cut 2027's by $0.11 to $3.32. We continue to see headwinds related to chocolate and biscuits divisions, though favorable forex has been helping to a degree. MDLZ highlighted plans to stimulate growth with more promotional activity, which could boost revenues (we see an acceleration in revenues in 2027), but may come with the trade-off of narrower margins. We note that cost-saving efforts can also contribute to staving off some of the margin pressure. MDLZ is largely hedged on its cocoa input costs for 2026 but less so in 2027. Thus, if the substantial rise in cocoa pricing in 2025 does not reemerge, it should help the bottom line in 2027 as cost pressures should ease. Share buybacks have also contributed to EPS, and we note that Q1 2026 share count was down 1.5% from one year earlier.
$MDLZ