智通财经网·2025-08-07 09:00Core Viewpoint - Morgan Stanley reports that Swire Properties (00019) increased its interim ordinary share dividend by 4% year-on-year to HKD 1.3, aligning with the bank's expectations, making it one of the few companies under its coverage to raise dividends [1] Financial Performance - Swire Properties' recurring underlying profit was HKD 4.7 billion, reflecting a 1% year-on-year decline, which was below Morgan Stanley's estimates due to lower operating margins in intellectual property and reduced contributions from associates and joint ventures [1] Investment Rating - Morgan Stanley maintains a "Market Perform" rating for Swire Properties with a target price of HKD 71, suggesting that the current price corresponds to a projected price-to-earnings ratio of 9 times for 2025, with a dividend yield of 5.2% [1]