Zacks Investment Research Downgrades Sun Hung Kai Properties (SUHJY) to Hold
Sun Hung Kai Properties (OTCMKTS:SUHJY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Friday.
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. “
Separately, ValuEngine cut shares of Sun Hung Kai Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 8th.
About Sun Hung Kai Properties
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.
Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sun Hung Kai Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hung Kai Properties and related companies with MarketBeat.com's FREE daily email newsletter.