Hysan Development 0014

Hysan Development 0014

Postby winston » Tue Aug 05, 2008 2:30 pm

Not vested.

Hysan Development profit more than doubles on revaluation gains

Hysan Development (0014), the biggest landlord in Hong Kong's Causeway Bay commercial district, more than doubled first-half profit after gains from the revaluation of its investment properties almost quadrupled.

Net income climbed to HK$3.44 billion or HK$3.31 a share, from HK$1.37 billion, or HK$1.30, a year earlier, the company said.

Sales, or rental income, rose to HK$791 million from HK$663 million.

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Re: Hysan Development 0014

Postby winston » Wed Mar 11, 2009 2:45 pm

DJ MARKET TALK: DBS Tips Tough Times Ahead For Hysan Development

1145 [Dow Jones] STOCK CALL: DBS tips tough times ahead for Hysan Development (0014.HK) despite FY08 underlying earnings coming in better than expected; +3.7% at HK$1.2 billion. Says Hysan suffering from deteriorating office leasing market as despite high 97.5% occupancy at end-December, should see pressure this year as about 30% of leases up for renewal.

Notes office rents also down 10%-20% from 2008 peaks, while expects residential leasing to face lower income visibility on weakening corporate demand. Says growing occupancy risk could add further downside on earnings, asset valuation, plus lack of positive share catalyst; keeps Hold rating, target HK$12.30. Stock +5.9% at HK$11.84. HSI up 3.7%.
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Re: Hysan Development 0014

Postby winston » Wed Aug 17, 2011 5:25 pm

Hysan sees higher HK rents this year

HONG KONG - Hong Kong property firm Hysan Development Co Ltd expects rental reversion this year to be positive, surpassing the peak in 2008 as a boom in mainland China boosts commercial activity in the financial hub, its chief executive said on Wednesday.

Source: Reuters
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Re: Hysan Development 0014

Postby winston » Thu Jul 12, 2012 11:55 am

DJ MARKET TALK: BOA-ML Upgrades Hysan To Buy; Emerging Yield Play

1137 [Dow Jones] STOCK CALL: Bank of America-Merrill Lynch raises Hysan Development (0014.HK) to Buy from Neutral, and lifts the target price to HK$38 vs HK$35 mostly as it rotates to FY13 valuations, but also on a slightly-raised NAV.

"We see prospects of higher capital returns in 2013 after the opening of Hysan Place in August 2012, with a higher dividend payout (from 60%-plus in the past few years to 70%) as the most likely scenario."

The house says its higher FY13 dividend (HK$1.23/share on 70% payout) represents 3.8% dividend yield, an attractive level in the sector. Hysan is down 0.9% at HK$32.30.


Source: Dow Jones Newswire
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Re: Hysan Development 0014

Postby winston » Fri Sep 23, 2016 1:48 pm

Sept 14, 2016

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<Research Report>Deutsche Keeps HYSAN DEV (00014.HK) at Sell on Deteriorating Retail Outlook

Deutsche Bank, in its report, said slowing visitor arrivals and anticipated softening domestic spending showed that the retail sales outlook in Hong Kong has deteriorated.

The broker expected softness in domestic spending ahead is a new challenge for HYSAN DEV (00014.HK), as one of the first major retail operators to shift its focus on local spending.

Meanwhile, with occupancy cost standing at a high 23.5% in 1H16, which is already exceeding the maximum level that retailers can generally afford, the broker anticipated a decline in rental affordability will exert downward pressure on rental ahead.

The broker lifted the target price of the stock from $27.35 to $32.2 with rating Sell.

Source: AAStocks Financial News
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Re: Hysan Development 0014

Postby winston » Wed Jun 24, 2020 8:43 pm

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Hysan Development Co Ltd (OTC:HYSNF)(OTCPK:HYSNY)

Investment thesis: Hong Kong is one of the most densely populated areas in the world, and due to its natural boundaries, things are not going to change anytime soon.

While this does not exactly bode well for tenants, it creates an excellent environment for landlords.

Among the countless great companies dealing in RE listed in Hong Kong, I decided on starting an investment in Hysan Development, a developer owning some key trophy assets in Causeway Bay.

Hysan has more than 4 million square feet of high-quality office, retail and residential properties, with a preponderance for office and retail, which make up for approximately 90% of the company’s NOI.

The protests and the pandemic have struck this company hard, with shares trading close to where they were a decade ago.

I find the valuation absurd, especially when considering Hysan’s free cash flow per share went from about 1 HKD in 2010 to 2.6 HKD in 2019.

The company’s dividend, which Hysan has grown for almost 20 years, now yields nearly 6%, and the company’s operations fully cover it.

The company also employs a low degree of leverage, and its balance sheet is rated A- by Moody’s and Fitch.

The founding Lee family maintains a controlling interest of about 40% in the firm, which I see as a positive, with interests aligned with minority shareholders.

Source: Seeking Alpha
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