SOHO China Half-Year Results Below Par, High Dividend Yield not Sustainable
SOHO China report half-year 2016 results lower than our expectation. Turnover and gross profit are up 85% and 90% year on year, respectively. The increase was attributed to higher rental incomes from Hongkou SOHO and Bund SOHO as these newly completed assets achieved higher occupancy since coming on line in late 2015. However, contribution from SOHO 3Q was lower than our estimate. Combined with lower capitalized interest expense and higher selling, administrative and other operating expenses, a...Soho China is engaged in property development and property investments. Co. operates within three segments: completed projects held for sale; completed investment properties; and projects under development.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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