Capitaland Investment 02 (Jun 10 - Dec 24)

Re: Capitaland 02 (Jun 10 - Dec 16)

Postby winston » Sat Dec 10, 2016 2:08 pm

not vested

This property giant could be the blue-chip stock you need

By Jude Chan

SINGAPORE (Dec 2): CapitaLand’s effort to boost its recurring earnings and cash flow is paying off, and its shares look attractive. Is this the blue-chip property stock to own?

What is likely to draw investors is the progress CapitaLand is making in its plan to accelerate cash generation from its assets in China and Singapore, and boost its return on equity (ROE).

More than anything else, that could widen the distance between itself and its peers, and turn it into the preeminent play on Asian real estate.

CapitaLand has an equity base of $24 billion, which is already significantly higher than Global Logistic Properties at US$13.4 billion and City Developments at $11.1 billion.

Meanwhile in Vietnam, CapitaLand is building a presence that is similar to what it has in China as well as Singapore.

It has deftly used a stable of property funds and trusts to finance and hold its development projects, and companies specialising in different fields to manage different types of commercial properties.

Derrick Heng, an analyst at Maybank Kim Eng Research, says CapitaLand’s earnings for the nine months to Sept 30 met 79% of his full-year estimate.

According to him, the group has unbilled home sales in China of RMB14.8 billion. “Recognition of 40% of these in 4QFY2016 provides sales visibility of $1.1 billion,” Heng says in a recent report.

He forecasts earnings of $966 million for this year, which is 9.2% lower than its earnings in 2015.

Analysts are expecting much stronger earnings in 2017, fuelled partly by stronger income from development projects as well as fair-value gains from the completion of the Raffles City projects in China.

Against this background, Heng forecasts a 65% jump in earnings next year to $1.6 million.

Heng figures that could put CapitaLand in a position to pay out higher dividends. “This could bump up its appeal as a recurring-income and dividend stock. Holding less cash would also reduce the drag on its ROE,” he says.

Last year, CapitaLand paid out nine cents a share in total, a yield of 2.9% based on its current share price.

Maybank Kim Eng has a revalued NAV estimate of $5.13 a share for CapitaLand.

The research house has a “buy” recommendation on the stock, with a price target of $4.06, which is a 21% discount to its RNAV.

CapitaLand closed 1 cent lower at $3.07.

Source: The Edge

http://smr.theedgemarkets.com/article/p ... up-content
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Capitaland 02 (Jun 10 - Dec 16)

Postby winston » Sat Dec 10, 2016 2:10 pm

not vested

CapitaLand (target price: $4.05)

CapitaLand should remain focused on improving its ROE through its initiatives including cost reduction and project completion cycles, according to analyst Joy Wang. She also emphasises that the developer could be a likely first mover on any potential restructuring and increasing dividend payout.

“This, coupled with likely strong earnings growth in the medium term and the undemanding valuation, should enable the Group to catch up in performance.

The stock is trading at a 23% discount to book and a 34% discount to Deutsche Bank RNAV estimates,” notes Wang.

Source: DB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Capitaland 02 (Jun 10 - Dec 16)

Postby behappyalways » Wed Feb 15, 2017 11:45 am

CapitaLand posts 74% rise in 4Q earnings to $430.5 mil on higher handover of China projects
http://www.theedgemarkets.com.sg/articl ... a-projects
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

Re: Capitaland 02 (Jun 10 - Dec 16)

Postby behappyalways » Sat Feb 18, 2017 8:18 pm

CapitaLand acquires 3 office buildings and a mall in Tokyo for $620.1 mil
http://www.theedgemarkets.com.sg/articl ... o-6201-mil
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

Re: Capitaland 02 (Jun 10 - Dec 18)

Postby behappyalways » Sat Apr 29, 2017 4:38 pm

CapitaLand posts 77% rise in 1Q earnings at $387 mil on better operating performance
http://www.theedgemarkets.com.sg/capita ... erformance
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

Re: Capitaland 02 (Jun 10 - Dec 18)

Postby behappyalways » Sun Aug 06, 2017 12:13 pm

capitaland-2q-earnings-double-5793-mil-better-operating-performance
https://www.theedgesingapore.com/capita ... erformance
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

Re: Capitaland 02 (Jun 10 - Dec 18)

Postby behappyalways » Sun Nov 19, 2017 8:42 pm

capitalands-3q-earnings-28-317-mil-higher-one-gains
https://www.theedgesingapore.com/capita ... -one-gains
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

Re: Capitaland 02 (Jun 10 - Dec 18)

Postby behappyalways » Sat Dec 30, 2017 7:47 pm

capitaland-acquires-first-office-building-germany-392-mil-jv-lum-chang
https://www.theedgesingapore.com/capita ... -lum-chang
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

Re: Capitaland 02 (Jun 10 - Dec 18)

Postby winston » Wed Jan 03, 2018 11:35 am

not vested

CapitaLand Ltd, db maintains BUY with TP S$4.60 unch

=Acquisition of German office building, implication on CCT?
=Buying office property in Frankfurt
=CapitaLand announced today that it has acquired a freehold multi-tenanted office building -
Main Airport Center (MAC) in Frankfurt, Germany at €245m (or €4,068psm) through a joint venture.

The group will hold 94.9% in the JV with Lum Chang holding the remaining stakes. The acquisition marks CapitaLand's entry into the commercial property market in Germany.

The asset - MAC, is currently 84% occupied by over 30 tenants including the German headquarters for Dell and Mastercard, and is expected to attain an occupancy rate of over 95% by June 2018 based on the leases already secured.

Gross investment yield for MAC is 5.5% with WALE at about 4 years.

=We estimate that net property income yield at about 4.8% for the transaction, which falls in the office yield range of between 3.3% - 6.4% provided by various consultants for prime and decentralized office in Frankfurt. We also estimate that the passing rent for the current leases at €22psm pm, which also falls in the office rental range of between €15 - 40 psm pm provided by various consultants for prime and decentralized office in Frankfurt.

=More global acquisitions expected

=Management reiterated in the press release that the group will remain aggressive but disciplined to reconstitute its portfolio and deploy capital to quality higher yielding assets, while continuing to grow its recurring income base by strengthening operating platform and assets under management.

Management also highlighted that besides key Asian markets such as Singapore, China, Japan and Vietnam, they see 'significant investment opportunities in key gateway cities in Europe, Australia and the U.S.'

=DB View
=Whilst there is nothing wrong in buying a quality office building in Germany that's yield accretive, such acquisition is more suitable for the group's REIT in our view should the investment mandate permit, especially with AUM for the group's REIT being significant enough today.

We are of the view that we could see a potential change in investment mandate for CapitaLand Commercial Trust to allow investments outside of Singapore.

=The acquisition also raises the issue of a blurring of the lines between CapitaLand and its REITs. With global investments more likely being income producing assets in our view, the question could persist and affect the group's share price performance in the near term despite being attractive in valuation.

Source: DB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: Capitaland 02 (Jun 10 - Dec 18)

Postby behappyalways » Sun Jan 07, 2018 8:03 pm

capitaland-divests-stakes-companies-holding-20-retail-assets
https://www.theedgesingapore.com/capita ... ail-assets
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 39914
Joined: Wed Oct 15, 2008 4:43 pm

PreviousNext

Return to C to D

Who is online

Users browsing this forum: No registered users and 8 guests

cron