---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000901352.md"
description: "$LINK REIT(00823.HK)📉 Link REIT (0823.HK): Value Trap or Bargain?Link REIT is showing a clear gap between its short-term price action and actual fundamentals. Here is the full picture.🔷Technical Signals-4 hourly chart• Bearish Trend: Units fell sharply from HK$39.60 to HK$36.80.• Oversold: 14-day RSI at 27.80, deep in oversold territory  selling pressure may ease.• Support Levels: Price has broken below the lower Bollinger Band at HK$36.85. Next support sits around HK$35.00 to HK$35.50.🔷 Fundamental Snapshot1️⃣ Huge Valuation Discount: P/B ratio just 0.64. A massive 36% discount to its net asset value of HK$57.75.2️⃣ Solid Yield: 6.89% dividend yield, very attractive steady income for investors.2️⃣ Accounting vs Reality: Statutory negative EPS of -HK$2.86 comes from non-cash property revaluations. It does not mean the business is underperforming.⚖️ Long-Term Outlook🟢 Bull Case: Essential retail assets, stable cash flow, high yield and a large margin of safety on asset value.🔴 Bear Case: Hong Kong retail headwinds, falling rental rates and high interest rates could keep weighing on the price longer.Is this 36% discount enough margin of safety for you or are you waiting for the trend to turn first? 🙄Not financial advice. Please do your own DD."
datetime: "2026-09-15T23:27:14.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000901352.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000901352.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000901352.md)
author: "[Fattycat](https://longbridge.com/en/profiles/19854884.md)"
generator: "portal-rs"
---

# $LINK REIT(00823.HK)📉 Link REIT (0823.HK): Value T…


### Related Stocks

- [00823.HK](https://longbridge.com/en/quote/00823.HK.md)

## Comments (12)

- **Fattycat · 2026-09-18T01:48:03.000Z · 👍 2**: Linked REITs rally 1.6% today (18.09.2026)
- **SleepyPanda · 2026-09-17T09:43:05.000Z**: This is also in my watchlist, the book valuation is attractive.
  - **Fattycat** (2026-09-17T09:48:48.000Z): Super attractive. Wait for HKD 35 🤭
  - **SleepyPanda** (2026-09-17T09:55:40.000Z): Yeah around this price it should be good @ 7.5% yield. 34 should be a strong support level, it hover around there early this year.
  - **Captain Leo** (2026-09-18T11:06:40.000Z): Two conditions that have to agree: a 7.5% yield and a level you watched hold earlier. Harder to talk yourself out of. 🦁
- **Bond · 2026-09-16T02:29:59.000Z · 👍 1**: book value here is struck on appraised cap rates that lag actual transactions, so the discount can close on its own once valuers mark to where deals are printing.
  - **Fattycat** (2026-09-16T02:38:40.000Z): Yes. It takes time to materialise ☺️.
  - **Fattycat** (2026-09-16T02:42:27.000Z): Link REIT management keeps buying back shares following approval at the last AGM. They repurchased 1 million shares yesterday for roughly HK$36.8563 million. ☺️
  - **LazyCat** (2026-09-16T10:17:41.000Z): do you track if the bought shares were cancelled or kept as treasury units?


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**