＜Research＞M Stanley Prefers SINO LAND (00083.HK) for Developers, Expects FY24 Div. Yield 7%

　　Morgan Stanley issued a report, saying that, compared to its peers, SINO LAND (00083.HK) -0.090 (-1.111%) Short selling $5.61M; Ratio 6.674% has higher net cash and exposure to hotels, help earnings and dividends remain resilient. The broker maintained an Outperform rating on the stock with a target price of $10, making it the broker's top pick for Hong Kong real estate stocks.

　　Morgan Stanley expected SINO LAND's DPS to grow 2% YoY to $0.59 for FY2024, implying a dividend yield of 7%. EPS was forecast to be $0.62 in FY2024, down 19% YoY due to lower development profits. DPS was $0.59, up 2% YoY.

　　In addition, the broker projected the Hong Kong property sales of SINO LAND to be $3.5 billion in 1H24. In 4M24, Hong Kong's overall retail sales declined by 5% YoY. Morgan Stanley estimated that SINO LAND's retail rents will sink 2% in FY2024.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-21 16:25.)

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