Henderson Land Development (NASDAQ:HLDCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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 6.51 on Friday. The company’s 50-day moving average price is $6.20 and its 200-day moving average price is $6.07. Henderson Land Development has a 12-month low of $5.12 and a 12-month high of $7.19. The firm has a market capitalization of $26.05 billion and a price-to-earnings ratio of 7.41.

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About Henderson Land Development

Henderson Land Development Company Limited is a Hong Kong-based investment holding company principally engaged in property businesses. The Company operates through six segments. Property Development segment is engaged in the development and sales of properties. Property Rental segment is engaged in the leasing of properties.

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