Sun Hung Kai Properties (OTCMKTS:SUHJY) Hits New 12-Month High – Should You Buy?

Shares of Sun Hung Kai Properties Ltd. (OTCMKTS:SUHJY) reached a new 52-week high during trading on Friday . The stock traded as high as $13.57 and last traded at $13.57, with a volume of 55044 shares. The stock had previously closed at $13.33.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SUHJY. Zacks Research lowered Sun Hung Kai Properties from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. CLSA raised Sun Hung Kai Properties to a “moderate buy” rating in a research report on Tuesday, November 11th. Finally, UBS Group downgraded shares of Sun Hung Kai Properties from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Sun Hung Kai Properties Price Performance

The company has a 50 day moving average of $12.64 and a 200 day moving average of $12.21.

About Sun Hung Kai Properties

Sun Hung Kai Properties (OTCMKTS:SUHJY) is a Hong Kong-based real estate developer and property investor, widely recognized as one of the territory’s largest and most influential property companies. The firm is primarily engaged in the development, sale and leasing of residential, commercial and industrial properties, as well as the ownership and management of investment properties such as shopping centres, office towers and hotels. It is listed on the Hong Kong Stock Exchange and also maintains an over‑the‑counter quotation in the United States.

The company’s core activities include land acquisition and project development, property sales, long‑term leasing and property management.