{"id":328869,"date":"2024-08-11T12:15:58","date_gmt":"2024-08-11T04:15:58","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328869"},"modified":"2024-08-11T12:16:00","modified_gmt":"2024-08-11T04:16:00","slug":"stock-in-focus-ayala-land-inc-ali-12-aug-2024-by-rcbc-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-ayala-land-inc-ali-12-aug-2024-by-rcbc-securities\/","title":{"rendered":"Stock in Focus: Ayala Land, Inc. (ALI) – 12 Aug 2024 by RCBC 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>RCBC Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>12 Aug 2024<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 45.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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Even under an elevated interest rate environment, the demand for ALI’s products has remained robust. In the 1st half (1H) of 2024, ALI’s net income grew by 15% year-on-year (y\/y) to Php13.1 billion and came in line with our estimates. <\/p>\n\n\n\n

With ALI passionately capitalizing on the premium market, where its expertise lies, we are confident it will continue to rake in hefty profits moving forward. We reiterate our BUY rating, with its share price sharply down 12.9% year-to-date (ytd) and 19.4% since the third week of February caused by fears we think were overdone.<\/p>\n\n\n\n

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

Premium verticals lead reservation sales growth<\/h3>\n\n\n\n

Residential revenues soared 40% y\/y to Php43.7 billion on higher bookings. Reservation sales were up 17% to Php68.4 billion, and the share of the premium products was 61% or Php41.8 billion, 23% higher y\/y. About 72% of the buyers were local Filipinos, 17% overseas Filipinos, and 11% other nationalities.<\/p>\n\n\n\n

Steady mall & office leasing <\/h3>\n\n\n\n

Revenues from mall and office leasing steadily increased by 8% to Php11.1 billion and 6% to Php6.1 billion, respectively, benefitting from higher occupancy, rent, and the contribution of One Ayala and Ayala Triangle Two. Meanwhile, hotels and resorts expanded by 19% to Php5.0 billion, driven by improved room rates and the share of Seda Manila Bay, Nuvali expansion, and Lio.<\/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>