Sun Hung Kai Properties (OTCMKTS:SUHJY) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Sun Hung Kai Properties (OTCMKTS:SUHJY) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $14.00 price target on the stock.

According to Zacks, “Sun Hung Kai Properties Limited is an investment holding company. The Company is engaged in the development of and investment in properties for sale and rent, hotel operation, telecommunications, transportation, infrastructure and logistics. Its segments include Property sales, Property rental, Hotel operation, Telecommunications, Transport infrastructure and logistics, and other businesses. The Property sales and Property rental segments operate in Hong Kong, Mainland China and Singapore. Its Property development for sale business includes land acquisition, project planning, sales and marketing, and property management. It builds leases and manages a range of commercial projects in both core and decentralized areas that provide office and retail space to tenants. It has a portfolio of hotels, serviced suites and residences. Its other businesses include property management, construction, mortgage and other loan financing, data center facilities and department store. “

Shares of OTCMKTS SUHJY opened at $12.21 on Wednesday. The business’s 50 day moving average is $14.12 and its two-hundred day moving average is $14.86. Sun Hung Kai Properties has a 1-year low of $12.09 and a 1-year high of $16.40. The stock has a market capitalization of $35.38 billion, a P/E ratio of 9.18, a PEG ratio of 0.33 and a beta of 0.55.

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 26th. Shareholders of record on Monday, November 8th will be paid a dividend of $0.456 per share. This is a boost from Sun Hung Kai Properties’s previous Semi-Annual dividend of $0.45. The ex-dividend date of this dividend is Friday, November 5th. Sun Hung Kai Properties’s payout ratio is presently 21.05%.

About Sun Hung Kai Properties

Sun Hung Kai Properties Limited develops and invests in properties for sale and rent in Hong Kong, Mainland China, and internationally. It develops and sells properties, including residential estates, offices, shopping malls, industrial buildings, and hotels and serviced suites. As of June 30, 2020, the company's land bank comprised 57.5 million square feet of gross floor area in Hong Kong; and 68.1 million square feet of gross floor area in Mainland China.

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