Elevator Pitch
I assign a "Neutral" rating to Hong Kong-listed Mainland China property developer Beijing Capital Land Ltd. (BJCLF) [2868:HK].
Beijing Capital Land trades at 3.6 times trailing twelve months' P/E, which represents a discount to its historical five-year and 10-year average trailing twelve months' P/E multiples of 4.4 times and 4.5 times respectively. The stock is valued by the market at 0.21 times P/B, versus its historical five-year and 10-year mean P/B multiples of 0.50 times and 0.61 times respectively. Beijing Capital Land also offers a trailing twelve months' dividend yield of