Sun Hung Kai Properties (OTCMKTS:SUHJY) Upgraded by Zacks Investment Research to Hold

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Zacks Investment Research upgraded shares of Sun Hung Kai Properties (OTCMKTS:SUHJY) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

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 SUHJY stock opened at $14.45 on Tuesday. The stock has a market cap of $41.86 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 3.97 and a beta of 1.20. Sun Hung Kai Properties has a fifty-two week low of $12.69 and a fifty-two week high of $18.21. The firm’s 50 day moving average price is $14.54 and its two-hundred day moving average price is $16.34.

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be given a dividend of $0.453 per share. This is a boost from Sun Hung Kai Properties’s previous Semi-Annual dividend of $0.14. The ex-dividend date of this dividend is Thursday, November 7th. Sun Hung Kai Properties’s payout ratio is 19.58%.

Sun Hung Kai Properties Company Profile

Sun Hung Kai Properties Limited develops, sells, and rents real estate properties in Hong Kong, Mainland China, and Singapore. The company primarily develops and sells properties, including residential estates, industrial buildings, offices, and shopping centers. As of June 30, 2018, its land bank comprised 64.5 million square feet of gross floor area, primarily consists of 50.7 million square feet of properties under development and rest properties for rental purpose.

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