Ge Long Hui·2025-08-08 05:24Group 1 - Citi has a positive outlook on Swire Properties, citing its commitment to annual mid-single-digit dividend growth [1] - Despite no new buyback plans, Swire Properties is utilizing revolving capital for capital expenditures to manage debt, indicating long-term value potential with a return on equity of 2.7% compared to a financing cost of 3.6% [1] - The company is prioritizing the execution of a HKD 100 billion investment plan, of which 67% has already been deployed [1] Group 2 - Citi maintains a "Buy" rating on Swire Properties based on a 5.6% yield and visible investment property pipeline [1] - The target price for Swire Properties has been raised from HKD 22.2 to HKD 23.8, maintaining a 55% discount to net asset value (NAV) per share [1]