SINGAPORE (March 2): DBS Vickers Securities is maintaining its “buy” call on Yanlord Land Group with a higher target price of $2.21 compared to $1.46 previously, after the China-based property developer posted a strong FY16 set of results last Friday.
In a Monday report, DBS notes a rebound in FY16 margins to 31% from 28% in the previous year, a trend they believe should continue into the current financial year with its strong average selling price (ASP) growth in its recent sales.
Yanlord’s management has also raised the group’s dividend payout ratio from 10% previously to 15% in FY16.
