智通财经网·2026-01-27 07:33Group 1 - The core viewpoint of the articles is that investors have overlooked the subdued performance of the Hong Kong real estate market last year, focusing instead on the potential for rising property prices, profit margins, and sales in 2026 and 2027 [1] - Citi believes that property developers will show greater earnings per share upside potential compared to rental stocks from 2026 to 2027, driven by improved housing sales profit margins and potential value-accretive land acquisitions [1] - Recommended stocks include Sun Hung Kai Properties (00016), Sino Land (00083), Henderson Land Development (00012) after March, and Hang Lung Properties (00101) [1] Group 2 - Regarding dividends, Citi states that Swire Properties (01972) and Hongkong Land are committed to achieving mid-single-digit year-on-year growth, while Wharf Real Estate Investment's (01997) per-share dividend growth is mainly due to a stable 65% payout ratio and savings on interest costs [2] - Expected stable dividends for Sun Hung Kai Properties, Cheung Kong Holdings (01113), Sino Land, Kerry Properties (00683), Hang Lung Properties, Hysan Development (00014), Wharf Holdings (00004) [2] - The performance of Link REIT (00823), Prosperity REIT (00778), and Champion REIT (02778) is expected to decline due to negative rental growth [2]