Zacks Investment Research lowered shares of Sun Hung Kai Properties (OTCMKTS:SUHJY) from a hold rating to a sell rating in a report released on Saturday, reports.

According to Zacks, “Sun Hung Kai Properties Limited is an investment holding company. The Company is engaged in the development of and investment in properties for sale and rent, hotel operation, telecommunications, transportation, infrastructure and logistics. Its segments include Property sales, Property rental, Hotel operation, Telecommunications, Transport infrastructure and logistics, and other businesses. The Property sales and Property rental segments operate in Hong Kong, Mainland China and Singapore. Its Property development for sale business includes land acquisition, project planning, sales and marketing, and property management. It builds leases and manages a range of commercial projects in both core and decentralized areas that provide office and retail space to tenants. It has a portfolio of hotels, serviced suites and residences. Its other businesses include property management, construction, mortgage and other loan financing, data center facilities and department store. “

OTCMKTS:SUHJY opened at $13.05 on Friday. Sun Hung Kai Properties has a one year low of $11.38 and a one year high of $16.00. The business’s 50-day simple moving average is $12.70 and its 200 day simple moving average is $12.90. The stock has a market cap of $37.80 billion, a price-to-earnings ratio of 9.96 and a beta of 0.79.

Sun Hung Kai Properties Company Profile

Sun Hung Kai Properties Limited develops, sells, and rents real estate properties in Hong Kong, Mainland China, and Singapore. The company primarily develops and sells properties, including residential estates, industrial buildings, offices, and shopping centers. As of June 30, 2018, its land bank comprised 64.5 million square feet of gross floor area, primarily consists of 50.7 million square feet of properties under development and rest properties for rental purpose.

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