{"id":323101,"date":"2023-05-09T08:08:34","date_gmt":"2023-05-09T00:08:34","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=323101"},"modified":"2023-05-09T08:13:55","modified_gmt":"2023-05-09T00:13:55","slug":"stock-in-focus-ayala-land-inc-ali-9-may-2023-by-ap-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-ayala-land-inc-ali-9-may-2023-by-ap-securities\/","title":{"rendered":"Stock in Focus: Ayala Land, Inc. (ALI) – 9 May 2023 by AP Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>ALI<\/td><\/tr>
Company Name<\/strong><\/td>Ayala Land, Inc.<\/td><\/tr>
Broker<\/strong><\/td>AP Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>9 May 2023<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 43.90<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

We maintain our BUY rating on ALI with a Target Price of P43.90 per share.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

ALI\u2019s reported net income for the 1st quarter (1Q) 2023 is P4.5 billion, surging from P3.17 billion from the same period last year. The earnings for 1Q 2023 however was below expectations at only 19.53% of the consensus estimate for 2023 (P23-Billion), below the pre-pandemic average of 22.65%. Total revenues for the year was P30.9 Billion (+26% YoY), with property development at P17.1 Billion (+8% YoY). Cancellation rates are expected to be 10-20 % lower this year with sales reservations also growing for 1Q 2023 at P27.7 Billion (+15% YoY). Included in ALI\u2019s expansion plans are 4 large new estates in Batangas, San Jose \u2013 Del Monte, Bulacan and Davao.<\/p>\n\n\n\n

Mall footfall for 1Q 2023 is at 100% of pre-COVID levels as commercial leasing surged to P10.1 Billion (+57% YoY). Tenant sales has improved to 92% of pre-COVID levels for this quarter, up from 87% last quarter. Occupancy for offices is at 89% with BPO remaining the bulk of its occupancy mix (73%) and POGO tenants the least exposure (2%).<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>