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Goldman Sachs: It is expected that property prices will rise by 5% this year and office rents will continue to decrease by 5%. Adjustments to the Target Price of Comprehensive Enterprises and real estate stocks (see table).
The bank agrees with the market view that the Residence sector will be the first to bottom out, but has a relatively less negative outlook on the Hong Kong retail market.
DBS Remains a Buy on Hysan Development Co (HYSNF)
Citi International: Maintains HYSAN DEV (00014) "Outperform Market" rating and raises Target Price to 14 Hong Kong dollars.
HYSAN DEV's core profit grew by 6.8% in 2024, exceeding the bank's expectations by 7%. The total revenue for the year increased by 6.2%, reaching 3.409 billion HKD.
[Brokerage Focus] Jianyin International maintains HYSAN DEV (00014) with an "outperform Large Cap" rating, indicating that its performance exceeded expectations and the renovation measures brought higher revenue.
Jinwu Financial News | Jianyin International issued a Research Report indicating that HYSAN DEV (00014) performance exceeded expectations, with dividends remaining unchanged. The core profit growth for 2024 was 6.8%, which is 7% higher than the bank's expectations. In the second half of 2024, the company successfully maintained the semi-annual dividend per share at HKD 0.81, resulting in a total annual dividend per share of HKD 1.08, with a payout ratio of 56.7% (compared to 60.5% in 2023). Benefiting from the expansion of flagship Luxury Goods brands, the retail department's revenue grew by 9.8%, and the increase in occupancy rates at Shanghai Liwan office buildings drove revenue growth in the office sector.
HYSAN DEVELOPMENT To Go Ex-Dividend On March 4th, 2025 With 0.20831 USD Dividend Per Share
Citi: Maintains HYSAN DEV (00014) "Buy" rating with a Target Price of 14 Hong Kong dollars.
The company is expected to further increase capital expenditures in the next two years, forecast to reach 1.5 billion to 2 billion Hong Kong dollars per year, with a dividend yield stable at 8.6 cents.
