{"id":329531,"date":"2024-09-19T13:29:05","date_gmt":"2024-09-19T05:29:05","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329531"},"modified":"2024-09-19T13:29:07","modified_gmt":"2024-09-19T05:29:07","slug":"stock-in-focus-filinvest-land-inc-fli-19-sept-2024-by-rcbc-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-filinvest-land-inc-fli-19-sept-2024-by-rcbc-securities\/","title":{"rendered":"Stock in Focus: Filinvest Land Inc. (FLI) – 19 Sept 2024 by RCBC Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>FLI<\/td><\/tr>
Company Name<\/strong><\/td>Filinvest Land Inc.<\/td><\/tr>
Broker<\/strong><\/td>RCBC Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>19 Sept 2024<\/td><\/tr>
Recommendation<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 0.67<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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We currently treat FLI as a dividend play, having declared a payout of 30% to 32% of its prior year\u201f’ profits annually. The latest declaration translates into a dividend yield of 7.9%, the highest among the property names in our coverage. We set our target price (TP) for FLI at Php0.67 and rate it a HOLD.<\/p>\n\n\n\n

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

Adding condotel operations to the portfolio<\/strong><\/p>\n\n\n\n

This time, Filinvest Land, Inc. (FLI) is adding condotel operations to its portfolio after getting into the co-working space. On September 16, 2024, FLI approved the acquisition of 100% of Fora Services, Inc. (FOSI) from parent Filinvest Development Corp.’s (FDC) wholly-owned subsidiary Filinvest Hospitality Corporation (FHC). FLI plans to capitalize on the novelty and potential of the condotel business and position itself for long-term growth. It is a minor deal, which we believe will not significantly enhance FLI\u201fs net asset value (NAV) for now, just like its other projects.<\/p>\n\n\n\n

New co-working space joint venture<\/strong><\/p>\n\n\n\n

Recall that earlier in the 2nd quarter (2Q) 2024, FLI partnered with a global co-working space provider, KMC Community, Inc. (KMC), and together they launched their joint venture (JV) company, Our Space Solutions, Inc. (OSSI), which offers private serviced office seats and co-working arrangements within commercial buildings across the Philippines. The first OSSI location is in Axis Tower One, a prime office building within Northgate Cyberzone, Filinvest City. It would be another source of profits for FLI, adding to the long-term earnings potential of its public-private partnership high-end residential and commercial development and commercial development named “Ciudad Project” in Cebu.<\/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>