Elevator Pitch
Hong Kong-listed property company and landlord Swire Properties Limited (OTCPK:SWPFF) (OTCPK:SWROY) [1972:HK] is currently trading at 0.52 times P/B, representing a 20% discount to its historical five-year average P/B of 0.65 times. It also offers a trailing 3.4% dividend yield.
Swire Properties has not avoided the fate of Hong Kong property stocks which have been dumped by investors in recent months due to ongoing protests in the city and U.S.-China trade tensions. Nevertheless, Swire Properties is a relatively more defensive stock, thanks to its defensive core Hong Kong office