CDL Hospitality Trusts

J85.SI : Singapore Exchange

0.970

-1.02%

Share Price in SGD. As of 17 Jul 17:04:46 SGT

All

Chart

Key stats

  • 52-Week High
    SGD 1.210
  • 52-Week Low
    SGD 0.930
  • Market Cap
    SGD 1.2B
  • Avg Volume
    1.4M
  • P/E Ratio (TTM)
    9.70
  • Forward Dividend Yield
    6.2%

Share Price Performance

J85.SI
Market
1 Day 0.00% -0.05%
5 Day 0.00% 0.42%
1 Month 1.57% 5.69%
6 Month -5.83% 11.14%
YTD -12.61% 8.04%
1 Year -6.73% 8.46%
5 Year -40.85% 11.85%
Include dividend return
Beansprout Analysis

Beansprout's Checklist

Fundamental
  • Change in REVPAR of 76.2% is higher than sector average of 72.4%

  • Net property income yield of 4.18% is lower than its dividend yield of 6.2%

Financial
  • Gearing Ratio of 0.38x is higher than sector average of 0.37x

  • Interest Coverage Ratio of 2.7x is above 2.5x

  • Net Book Value of $1.50 is higher than its net book value of $1.44 in the previous year

Valuation
  • Dividend Yield of 6.2% is lower than sector average of 7.8%

  • Distribution per unit growth is 1.20%

  • Price to Book of 0.64x is higher than sector average of 0.62x

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Revenue Breakdown by Asset

Revenue Breakdown by Geography

Market Analysis

Consensus Share Price Target

Price Target: $1.122

Sell
Underperform
Neutral
Outperform
Buy

Source: SGX as of 17 Jul 2024

Analyst Ratings

  • CGS-CIMB

    30 Oct 2023

    Add

    1.430

    (prev 1.550)

  • DBS Research

    05 Dec 2023

    Buy

    1.550

  • Maybank Research

    06 Jun 2024

    Buy

    1.100

  • RHB Invest

    26 Jun 2024

    Buy

    1.200

  • UOB Kay Hian

    21 May 2024

    Buy

    1.480

Analyst Reports

Valuation

Price to book (P/B) ratio

Current P/B
0.6
Historical Average P/B
0.8

CDL Hospitality Trusts's current P/B ratio of 0.6x is lower than its historical average P/B ratio of 0.8x.

Earnings

Earnings Highlights

First Quarter 2024 Operational Update

  • Revenue: SGD 65.26M

    Increased 7% Year-on-Year

    CDLHT experienced RevPAR growth across all geographical markets, largely driven through increased occupancies.

  • Net Property Income (NPI): SGD 34.92M

    Increased 7% Year-on-Year

    Higher NPI from Singapore, Japan, Italy and Maldives offset by weaker performance in New Zealand, Australia, UK and Germany.

  • Leverage/Gearing: 38%

    Increased 3% Year-on-Year

    As at 31 March 2024, CDLHT has a healthy balance sheet, with a gearing of 37.8%.

Earnings per share (EPS)

The latest earnings per share is $0.17, which is higher than the earnings per share of $0.06 in 2021.

Financials

Financial Statements

30 Jan 2024

Full Yearly Results

For period ending 31 Dec 2023

30 Jan 2024

Full Yearly Results

For period ending 31 Dec 2023

28 Jul 2023

Half Yearly Results

For period ending 30 Jun 2023

28 Jul 2023

Half Yearly Results

For period ending 30 Jun 2023

Annual Reports

27 Mar 2024

Annual Report

For period ending 31 Dec 2023

News
Profile

Company Description

CDL Hospitality Trusts is a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust and CDL Hospitality Business Trust (“HBT”), a business trust. H-REIT, the first hotel real estate investment trust (“REIT”) in Singapore, is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate which is primarily used for hospitality and/or hospitality-related purposes, whether wholly or partially, and real estate-related assets in relation to the foregoing. The initial asset portfolio of H-REIT, as at the Listing Date, comprises Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel and Copthorne King’s Hotel, all of which are located in Singapore and marketed as “superior” hotels, with a total of over 1,900 rooms as at 9 June 2006, as well as Orchard Hotel Shopping Arcade, the shopping arcade adjoining Orchard Hotel. Orchard Hotel Shopping Arcade is included in H-REIT’s portfolio as it is complementary to the guest facilities at the Orchard Hotel, providing shopping and leisure facilities to hotel guests. HBT is a business trust which will be dormant at at Listing Date. It exists primarily as “a master lessee of last resort” and will become active if H-REIT is unable to appoint a master lessee for any of the Hotels in its portfolio at the expiry of the relevant master lease agreement or for a newly acquired hotel. HBT may also become active if it undertakes certain hospitality and hospitality-related development projects, acquisitions and investments which may not be suitable for H-REIT.

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