HLDCY - Henderson Land: Rental Income Growth And Farmland Monetization Are Catalysts
Elevator Pitch
I assign a "Bullish" rating to Hong Kong-listed property company Henderson Land Development Company Limited (HLDCY) (HLDVF) [12:HK].
Henderson Land trades at 0.49 times P/B, which represents a discount to its historical 10-year mean P/B multiple of 0.65 times. The stock is also valued by the market at 10.0 times consensus forward next twelve months' P/E, versus the stock's historical five-year and 10-year consensus forward next twelve months' P/E multiples of 13.6 times and 15.2 times respectively. Henderson Land also offers a consensus forward next twelve months' dividend yield