Sun Hung Kai Properties (OTCMKTS:SUHJY) Reaches New 12-Month High Following Analyst Upgrade

Shares of Sun Hung Kai Properties Ltd. (OTCMKTS:SUHJY) reached a new 52-week high on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $14.0790 and last traded at $13.98, with a volume of 56412 shares trading hands. The stock had previously closed at $13.84.

Other research analysts have also issued reports about the stock. UBS Group lowered shares of Sun Hung Kai Properties from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. CLSA raised Sun Hung Kai Properties to a “moderate buy” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Sun Hung Kai Properties Stock Performance

The stock’s 50 day moving average price is $12.81 and its two-hundred day moving average price is $12.30.

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.