Zacks Investment Research downgraded shares of Henderson Land Development (NASDAQ:HLDCY) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “HENDERSON LAND DEVELOPMENT COMPANY LIMITED is an investment holding company and its core business comprises investment holding, property development, property investment and related businesses including project management, construction, property management, financial services and hotel operation. The Company focuses primarily on the Hong Kong market, but is also active in Mainland China where it has been steadily expanding its investments and scale of operations in recent years. Henderson Land holds a listed subsidiary – Henderson Investment Limited. Henderson Land also has three associated companies and one affiliated company listed on the Main Board of The Stock Exchange of Hong Kong Limited (the SEHK). These associated companies and the affiliated company are: The Hong Kong and China Gas Company Limited, Hong Kong Ferry (Holdings) Company Limited, Miramar Hotel and Investment Company, Limited and Towngas China Company Limited. “

Henderson Land Development (NASDAQ:HLDCY) opened at 5.815 on Tuesday. The firm has a market capitalization of $21.15 billion and a P/E ratio of 8.167. The stock has a 50 day moving average price of $5.90 and a 200 day moving average price of $5.60. Henderson Land Development has a one year low of $4.32 and a one year high of $6.05.

Henderson Land Development Company Profile

Henderson Land Development Company Limited is an investment holding company. Its core businesses comprise property development and property investment. The Company’s segments include Property development, which is engaged in the development and sale of properties; Property leasing, which is engaged in leasing of properties; Hotel operation, which is engaged in the hotel operation and management; Department store operation, which is engaged in department store operation and management; Utility and energy, which is engaged in the production, distribution and marketing of gas, water supply and energy businesses, and Others, which includes construction, infrastructure, provision of finance, investment holding, project management, property management, agency services, cleaning and security guard services, as well as the trading of building materials and disposal of leasehold land.

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