Hongkong Land Holdings' dividend-per-share growth is likely to persist, CGS International analysts say in a research report as the brokerage maintains a hold rating on the stock.
As management intends to pay 60%-80% of recurring income as dividends, the property investment, management and development group will probably continue to grow its DPS by $0.01 a year in 2025-2026, the analysts estimate.
Its investment property portfolio expansion in China and other Asian countries could also lead to higher earnings stability in long term.
However, the brokerage cuts the company's net asset value by 2% to reflect revised development properties' sales assumption, and lowers the target price to $4.82 from $4.95.
Shares are 0.5% higher at $4.40.
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