New World Development (OTCMKTS:NDVLY) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group lowered shares of New World Development (OTCMKTS:NDVLY) from a buy rating to a neutral rating in a report released on Monday morning, The Fly reports.

OTCMKTS NDVLY opened at $2.14 on Monday. The company’s 50 day moving average is $2.12 and its 200-day moving average is $2.36. New World Development has a 12-month low of $1.88 and a 12-month high of $2.78.

The company also recently disclosed a dividend, which will be paid on Tuesday, December 28th. Investors of record on Wednesday, November 24th will be paid a dividend of $0.1324 per share. The ex-dividend date of this dividend is Tuesday, November 23rd. This represents a yield of 6.13%.

New World Development Company Profile

New World Development Company Limited, an investment holding company, engages in the property development and investment business in Hong Kong and internationally. Its property portfolio comprises residential, retail, office, and industrial properties. The company also provides commercial aircraft leasing services; operates expressways; and constructs residential and commercial projects, as well as provides protection and savings-related life and medical insurance products.

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