Sun Hung Kai Properties 0016

Re: Sun Hung Kai Properties 0016

Postby winston » Mon Sep 16, 2019 10:33 am

Resilient performance

FY19 underlying profit rose 6.6% to HK$32.4bn, in line with our forecast

Steady project launch pipeline to drive development income

Beefing up rental property portfolio in Hong Kong and China

Buy with HK$ 135.6 TP

The stock is now trading at 53% discount to our appraised current NAV with dividend yield of 4.3% for FY20.

From a historical viewpoint, its valuation is undemanding.

This should help cushion further downside risk.

BUY with TP of HK$135.6, premised on 45% discount to our Jun-20 NAV estimate.


Source: DBS

https://researchwise.dbsvresearch.com/R ... ibdfkfhgbh
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Re: Sun Hung Kai Properties 0016

Postby winston » Wed Oct 16, 2019 6:48 am

vested

Sun Hung Kai Properties (0016) yesterday announced reductions in rent and other relevant fees for some tenants affected by recent protests.

The developer said it had decided to reduce shop rents and other expenses for some of its tenants to relieve pressure on their operations, with the hope of weathering the current downturn together.

SHKP also called on the government to proactively offer relief measures to all affected property owners, as well as merchants, to help the retail industry recover from the predicament.

This move came after MTR Corporation (0066), Swire Properties (1972) and Henderson Land Development (0012) reduced rents for their shopping malls. The Link REIT (0823) said it was gathering information and will provide targeted relief measures to tenants.

Shop rents in major districts recorded double-digit decreases in the third quarter. Among these districts, Causeway Bay saw its shop rents decrease 17.5 percent over the previous season.

Source: The Standard
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Re: Sun Hung Kai Properties 0016

Postby winston » Fri Nov 29, 2019 2:24 pm

not vested

The giant meets its match (again)

Won the tender for a sizeable commercial site in West Kowloon

Superbly located project offering strong synergies with SHKP’s neighbouring portfolio

This landmark development, if fully let, should produce >HK$3bn in annual rental income

BUY with HK$137 TP

Situated atop the high-speed rail (HSR) Hong Kong West Kowloon Station, this sizeable commercial development offers unrivalled transportation connectivity with major cities
in Mainland China via the high-speed rail network.

The project also has easy access to the Airport Express, and the West Rail Line.

SHKP will develop this site into several office towers and a premium shopping mall. This should create significant synergies with the company’s ICC/Ritz Carlton/W Hotel in the neighborhood.

SHKP shares are trading at a 54% discount to our current assessed NAV and offers 4.4% dividend yield for FY20-21.


Source: DBS

https://researchwise.dbsvresearch.com/R ... jjifkgaifc
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Re: Sun Hung Kai Properties 0016

Postby winston » Tue May 26, 2020 8:07 am

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Kwok family ups stake in SHKP

The Kwok family trust has increased its stake in Sun Hung Kai Properties (0016) by 1 million shares for HK$90.87 million.

Five family members, including Kwong Siu-hing and SHKP chairman Raymond Kwok Ping-luen, voluntarily declared they had purchased SHKP shares at an average price of HK$90.8692 per share on May 22.

The Kwok family trust's shares rose from 26.59 percent to 26.63 percent.

This was the second time the family raised its shares of SHKP in 10 days.

On the same day, the son of Thomas Kwok Ping-kwong, Adam Kwok Kai-fai bought 450,000 shares of SHKP at an average price of HK$92.7516 per share for a total of HK$41.74 million through his company Thriving Talent.

In total, the Kwok's family increased their shares in SHKP for a total of HK$132 million.

Source: The Standard

https://www.thestandard.com.hk/section- ... ke-in-SHKP
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Re: Sun Hung Kai Properties 0016

Postby winston » Wed May 27, 2020 11:26 am

not vested

<Research Report>M Stanley Heightens SHK PPT (00016.HK) TP to $131; Rated Overweight

SHK PPT (00016.HK) was the biggest real estate company compared with top-10 global real estate players by earnings.

Focusing on core market and sub-segments, SHK PPT had missed the growth opportunities from the technology field (e.g. logistics and telecom infrastructure), opined Morgan Stanley.

SHK PPT was rated at Overweight, with target lifted from $128 to $131.

Source: AAStocks Financial News
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Re: Sun Hung Kai Properties 0016

Postby winston » Thu Feb 25, 2021 10:32 am

BUY with HK$135.2 TP.

The stock, trading at a 54% discount to our appraised current NAV, remains inexpensive from a historical perspective.

The roll-out of project launches should receive good response, providing upside on stock price.

Improving earnings quality led by growing rental income warrants a higher stock valuation over the long term.

Source: DBS

https://www.dbs.com.sg/treasures/aics/s ... /16_HK.xml
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Re: Sun Hung Kai Properties 0016

Postby winston » Mon Mar 01, 2021 11:52 am

not vested

BUY, HK$135.2 TP.

The stock is trading at a 48% discount to our appraised current NAV.

The planned project launches should receive good response, providing upside on stock price.

Improving earnings quality led by growing rental income justifies a higher stock valuation in the long term.

Source: DBS

https://www.dbs.com.sg/treasures/aics/s ... /16_HK.xml
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Re: Sun Hung Kai Properties 0016

Postby winston » Thu Jun 03, 2021 2:02 pm

not vested

Sun Hung Kai Properties – BUY (Shaun Tan)

The Hong Kong residential market is heating up as prices have been increasing (CCL
index up 5% ytd) together with transaction volumes (monthly transactions in Mar 21 and Apr 21 up 49% and 47% vs average volume in 2020).

We continue to like Sun Hung Kai Properties (SHKP) as a proxy for the overall property market in Hong Kong and for its ample new project launches in 2Q21 (about 1,600 units).

SHKP could be a defensive name to pick up as we expect results to be resilient on strong property sales. It currently provides an yield of 4.1%.

We maintain BUY with a target price of HK$148.10, based on a 30% discount to NAV
of HK$214.65.

Share Price Catalyst
Event: Strong residential project sales in 2Q21.
Timeline: 2Q21

Source: UOBKH
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Re: Sun Hung Kai Properties 0016

Postby winston » Mon Sep 11, 2023 9:27 am

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SHKP Annual Underlying Profit Drops 16.9% to $23.885B, Missing Forecast; Final DPS Kept at $3.7

SHK PPT (00016.HK) announced its annual results for the year ended June 2023.

Turnover amounted to $71.195 billion, down 8.4% YoY, lower than the forecasts of 4 brokers consolidated by our reporters ranging from $75.306 billion to $81.188 billion.

Net profit amounted to $23.907 billion, down 6.5% YoY. EPS was $8.25. Final dividend of $3.7 was maintained.

During the period, the Group's underlying profit amounted to $23.885 billion, representing a YoY decrease of 16.9%, which was lower than the forecasts of 3 brokers consolidated by our reporters in the range of $26.26 billion to $27.953 billion, mainly due to the decline in profit generated from property sales.

Underlying profit per share was $8.24.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news
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Re: Sun Hung Kai Properties 0016

Postby winston » Mon Sep 11, 2023 9:47 am

vested

Sun Hung Kai Properties Ltd
Lower payout to preserve balance sheet


SHKP kept its FY6/23 DPS unchanged yoy at HK$4.95 despite a 17% yoy decline in underlying profit.

However, we project a 10% yoy decline in FY6/24F DPS as management targets a payout ratio of 40-50% that may disappoint investors.

It sets a HK DP contracted sales target of HK$33bn in FY6/24F, on par with its sales achieved in FY6/23.

Reiterate Add with a lower TP of HK$111.1 (40% discount to NAV).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... D20473E6BA
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