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CDP

Carindale Property TrustASX:CDP Stock Report

Market Cap

AU$335.0m

7D

5.6%

1Y

32.0%

Updated

20 Oct, 2021

Data

Company Financials +
CDP fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance1/6
Financial Health1/6
Dividends3/6

CDP Overview

Westfield Carindale is situated in an affluent quarter of Brisbane’s south-eastern suburbs approximately 12 kilometres from the Brisbane CBD.

Price History & Performance

Summary of all time highs, changes and price drops for Carindale Property Trust
Historical stock prices
Current Share PriceAU$4.70
52 Week HighAU$3.46
52 Week LowAU$4.89
Beta1.09
1 Month Change5.86%
3 Month Change10.59%
1 Year Change32.02%
3 Year Change-39.36%
5 Year Change-38.96%
Change since IPO100.00%

Recent News & Updates

Mar 10
Would Shareholders Who Purchased Carindale Property Trust's (ASX:CDP) Stock Five Years Be Happy With The Share price Today?

Would Shareholders Who Purchased Carindale Property Trust's (ASX:CDP) Stock Five Years Be Happy With The Share price Today?

The main aim of stock picking is to find the market-beating stocks. But the main game is to find enough winners to more...

Shareholder Returns

CDPAU REITsAU Market
7D5.6%1.5%1.7%
1Y32.0%21.5%20.2%

Return vs Industry: CDP exceeded the Australian REITs industry which returned 21.5% over the past year.

Return vs Market: CDP exceeded the Australian Market which returned 20.2% over the past year.

Price Volatility

Is CDP's price volatile compared to industry and market?
CDP volatility
CDP Beta1.09
Industry Beta0.86
Market Beta1

Stable Share Price: CDP is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: CDP's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/aPeter Allenhttps://www.carindalepropertytrust.com.au

Westfield Carindale is situated in an affluent quarter of Brisbane’s south-eastern suburbs approximately 12 kilometres from the Brisbane CBD. The centre services a trade area population of approximately 690,000 with the nearby Gateway Motorway offering residents to the north and south of the centre convenient access. One of the city’s leading retail and lifestyle destinations, Westfield Carindale is home to many of Australia’s most well-known retailers including David Jones, Myer, Harris Scarfe, Big W, Target, Coles, Woolworths, ALDI and Apple, as well as a host of premium fashion brands.

Carindale Property Trust Fundamentals Summary

How do Carindale Property Trust's earnings and revenue compare to its market cap?
CDP fundamental statistics
Market CapAU$335.03m
Earnings (TTM)AU$39.42m
Revenue (TTM)AU$50.11m

8.5x

P/E Ratio

6.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CDP income statement (TTM)
RevenueAU$50.11m
Cost of RevenueAU$19.14m
Gross ProfitAU$30.96m
Expenses-AU$8.45m
EarningsAU$39.42m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.55
Gross Margin61.79%
Net Profit Margin78.66%
Debt/Equity Ratio59.1%

How did CDP perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

34%

Payout Ratio

Valuation

Is Carindale Property Trust undervalued compared to its fair value and its price relative to the market?

29.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CDP (A$4.7) is trading below our estimate of fair value (A$6.64)

Significantly Below Fair Value: CDP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CDP is good value based on its PE Ratio (8.5x) compared to the Australian REITs industry average (9.6x).

PE vs Market: CDP is good value based on its PE Ratio (8.5x) compared to the Australian market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: CDP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CDP is good value based on its PB Ratio (0.7x) compared to the AU REITs industry average (1.2x).


Future Growth

How is Carindale Property Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-3.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CDP's earnings are forecast to decline over the next 3 years (-3.1% per year).

Earnings vs Market: CDP's earnings are forecast to decline over the next 3 years (-3.1% per year).

High Growth Earnings: CDP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CDP's revenue is expected to decline over the next 3 years (-9% per year).

High Growth Revenue: CDP's revenue is forecast to decline over the next 3 years (-9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CDP's Return on Equity is forecast to be low in 3 years time (4.7%).


Past Performance

How has Carindale Property Trust performed over the past 5 years?

-55.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CDP has a large one-off gain of A$12.3M impacting its June 30 2021 financial results.

Growing Profit Margin: CDP became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: CDP's earnings have declined by 55.1% per year over the past 5 years.

Accelerating Growth: CDP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: CDP has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (106.4%).


Return on Equity

High ROE: CDP's Return on Equity (8.5%) is considered low.


Financial Health

How is Carindale Property Trust's financial position?


Financial Position Analysis

Short Term Liabilities: CDP's short term assets (A$5.8M) do not cover its short term liabilities (A$14.5M).

Long Term Liabilities: CDP's short term assets (A$5.8M) do not cover its long term liabilities (A$275.3M).


Debt to Equity History and Analysis

Debt Level: CDP's debt to equity ratio (59.1%) is considered high.

Reducing Debt: CDP's debt to equity ratio has increased from 39.7% to 59.1% over the past 5 years.

Debt Coverage: CDP's debt is not well covered by operating cash flow (8.8%).

Interest Coverage: CDP's interest payments on its debt are well covered by EBIT (8.8x coverage).


Balance Sheet


Dividend

What is Carindale Property Trust current dividend yield, its reliability and sustainability?

4.89%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CDP's dividend (4.89%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).

High Dividend: CDP's dividend (4.89%) is low compared to the top 25% of dividend payers in the Australian market (5.33%).


Stability and Growth of Payments

Stable Dividend: CDP's dividend payments have been volatile in the past 10 years.

Growing Dividend: CDP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34.2%), CDP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CDP's dividends in 3 years are forecast to be covered by earnings (78.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.3yrs

Average management tenure


CEO

Peter Allen (59 yo)

7.75yrs

Tenure

AU$3,084,038

Compensation

Mr. Peter Kenneth Allen has been the Chief Executive Officer and Executive Director of Scentre Group since 2010 and May 25, 2011 respectively and serves as its Managing Director. Mr. Allen has been Chief E...


Leadership Team

Experienced Management: CDP's management team is seasoned and experienced (7.3 years average tenure).


Board Members

Experienced Board: CDP's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Carindale Property Trust's employee growth, exchange listings and data sources


Key Information

  • Name: Carindale Property Trust
  • Ticker: CDP
  • Exchange: ASX
  • Founded: NaN
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: AU$335.029m
  • Shares outstanding: 71.28m
  • Website: https://www.carindalepropertytrust.com.au

Location

  • Carindale Property Trust
  • 85 Castlereagh Street
  • Level 30
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/20 15:18
End of Day Share Price2021/10/20 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.