City Developments (DB:CDE) - Stock Price, News & Analysis

CDE Stock Overview

City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions.

About the company

CDE fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	1/6
Past Performance	1/6
Financial Health	2/6
Dividends	3/6

Rewards

Trading at 66.2% below our estimate of its fair value

Earnings are forecast to grow 11.95% per year

Trading at good value compared to peers and industry

Risk Analysis

Interest payments are not well covered by earnings

Large one-off items impacting financial results

Profit margins (6.2%) are lower than last year (38.6%)

Unstable dividend track record

City Developments Limited Competitors

PATRIZIA

XTRA:PAT

€690.3m

FCR Immobilien

XTRA:FC9

€94.8m

Deutsche EuroShop

XTRA:DEQ

€1.4b

Sedlmayr Grund und Immobilien

DB:SPB

€895.8m

Price History & Performance

Summary of all time highs, changes and price drops for City Developments
Historical stock prices
Current Share Price	S$3.86
52 Week High	S$5.05
52 Week Low	S$3.80
Beta	0.85
1 Month Change	-3.02%
3 Month Change	-8.53%
1 Year Change	-22.49%
3 Year Change	-20.90%
5 Year Change	-34.15%
Change since IPO	-17.70%

Recent updates

Shareholder Returns

	CDE	DE Real Estate	DE Market
7D	-4.0%	-1.1%	-0.8%
1Y	-22.5%	6.2%	1.0%

Return vs Industry: CDE underperformed the German Real Estate industry which returned 6.2% over the past year.

Return vs Market: CDE underperformed the German Market which returned 1% over the past year.

Price Volatility

Is CDE's price volatile compared to industry and market?
CDE volatility
CDE Average Weekly Movement	3.1%
Real Estate Industry Average Movement	5.1%
Market Average Movement	4.9%
10% most volatile stocks in DE Market	9.9%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: CDE has not had significant price volatility in the past 3 months.

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

About the Company

Founded	Employees	CEO	Website
1963	8,083	Sherman Kwek	www.cdl.com.sg

City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments.

City Developments Limited Fundamentals Summary

How do City Developments's earnings and revenue compare to its market cap?
CDE fundamental statistics
Market cap	€3.50b
Earnings (TTM)	€210.14m
Revenue (TTM)	€3.40b

16.7x

P/E Ratio

1.0x

P/S Ratio

Is CDE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CDE income statement (TTM)
Revenue	S$4.94b
Cost of Revenue	S$3.29b
Gross Profit	S$1.65b
Other Expenses	S$1.34b
Earnings	S$305.06m

Last Reported Earnings

Dec 31, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	0.34
Gross Margin	33.36%
Net Profit Margin	6.17%
Debt/Equity Ratio	122.0%

How did CDE perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

24%

Payout Ratio

Does CDE pay a reliable dividends?

See CDE dividend history and benchmarks

When do you need to buy CDE by to receive an upcoming dividend?
City Developments dividend dates
Ex Dividend Date	May 03 2024
Dividend Pay Date	May 21 2024
Days until Ex dividend	15 days
Days until Dividend pay date	33 days

Does CDE pay a reliable dividends?

See CDE dividend history and benchmarks

CDE Stock Overview

Rewards

Risk Analysis

City Developments Limited Competitors

XTRA:PAT

€690.3m

XTRA:FC9

€94.8m

XTRA:DEQ

€1.4b

DB:SPB

€895.8m

Price History & Performance

Recent News & Updates

New minor risk - Earnings quality

Final dividend of S$0.08 announced

Full year 2023 earnings released: EPS: S$0.34 (vs S$1.40 in FY 2022)

Developments Limited (SGX:C09) acquired Summervale Properties Pte Ltd. for SGD 2.

City Developments Limited (SGX:C09) acquired 209 co-living studio units Yardhouse in White City, London for £88 million.

City Developments Limited to Report Q4, 2023 Results on Feb 28, 2024

Recent updates

New minor risk - Earnings quality

Final dividend of S$0.08 announced

Full year 2023 earnings released: EPS: S$0.34 (vs S$1.40 in FY 2022)

Developments Limited (SGX:C09) acquired Summervale Properties Pte Ltd. for SGD 2.

City Developments Limited (SGX:C09) acquired 209 co-living studio units Yardhouse in White City, London for £88 million.

City Developments Limited to Report Q4, 2023 Results on Feb 28, 2024

City Developments Limited Provides Earnings Guidance for the Full Year Ending 31 December 2023

Galliard Homes Limited and City Developments Limited (SGX:C09) acquired 13.8-acre Morden Wharf development in the Royal Borough of Greenwich from U and I Group PLC and Morden College.

City Developments Limited (SGX:C09) acquired Portfolio of tokyo residential rental freehold assets from BentallGreenOak (U.S.) Limited Partnership for JPY 35 billion.

City Developments Limited Announces Resignation of Tan Li Lian as Group Chief Human Resources Officer, Effective on September 30, 2023

First half 2023 earnings released: EPS: S$0.066 (vs S$1.23 in 1H 2022)

New minor risk - Profit margin trend

City Developments Limited to Report First Half, 2023 Results on Aug 10, 2023

City Developments Limited Approves Special Final One-Tier Tax-Exempt Ordinary Dividend for the Fiscal Year 2022

Upcoming dividend of S$0.16 per share at 3.8% yield

Full year 2022 earnings released

Full year 2022 earnings released: EPS: S$1.40 (vs S$0.093 in FY 2021)

City Developments Limited to Report Fiscal Year 2022 Results on Feb 23, 2023

City Developments Limited Appoints Tan Li Lian as the Group Chief Human Resources Officer

City Developments Limited (SGX:C09) acquired Four Purpose-Built Student Accommodation Assets In UK for approximately £190 million.

City Developments Limited (SGX:C09) acquired Four Purpose-Built Student Accommodation Assets In UK for £85 million.

High number of new directors

First half 2022 earnings released: EPS: S$1.24 (vs S$0.042 loss in 1H 2021)

City Developments Limited Declares Tax-Exempt (One-Tier) Special Interim Dividend for the Financial Year Ending 31 December 2022

City Developments Limited to Report First Half, 2022 Results on Aug 11, 2022

City Developments Limited Announces Resignation of Frank Khoo Shao Hong as Group Chief Investment Officer

City Developments Limited (SGX:C09) and HThree Capital Pte.Ltd agreed to acquire 18-storey building in downtown Melbourne from AMP Capital Investors Limited for $162 million.

City Developments Limited Approves Special Final One-Tier Tax-Exempt Ordinary Dividend for the Fiscal Year 2021, Payable on 26 May 2022

City Developments Limited (SGX:C09) acquired 179,007 sq ft site at 798 and 800 Upper Bukit Timah Road for SGD 126.3 million.

City Developments Limited, Annual General Meeting, May 24, 2022

High number of new and inexperienced directors

Full year 2021 earnings released: EPS: S$0.093 (vs S$2.13 loss in FY 2020)

City Developments Limited, Annual General Meeting, Apr 28, 2022

City Developments Limited, Annual General Meeting, Apr 28, 2022

City Developments Limited Announces Special Dividend for Fiscal Year 2021

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Upcoming dividend of S$0.03 per share

First half 2021 earnings released: S$0.042 loss per share (vs S$0.004 loss in 1H 2020)

Head of Corporate Secretarial Services Department & Company Secretary has left the company

City Developments Limited Resolves Special Final One-Tier Tax-Exempt Ordinary Dividend for Fiscal Year 2020 Payable on 21 May 2021

Lead Independent Director has left the company

Independent Non-Executive Director has left the company

Upcoming dividend of S$0.12 per share

Full year 2020 earnings released: S$2.13 loss per share (vs S$0.61 profit in FY 2019)

City Developments Limited Proposes Special Final One-Tier Tax-Exempt Ordinary Dividend for Financial Year 2020

Revenue misses expectations

Full year 2020 earnings released: S$2.13 loss per share (vs S$0.61 profit in FY 2019)

City Developments Limited' Suzhou Jin Cheng Hao Chuang Investment Management Co. with Shanghai CF Enterprise Group Co., Ltd. Incorporates Joint Venture Company

City Developments Limited (SGX:C09) entered into agreement to acquire 55% stake in Shenzhen Longgang Tusincere Tech Park from Chongqing Xiexin Yuanchuang Industrial Co., Ltd. and Ping An Insurance (Group) Company of China, Ltd. (SEHK:2318).

City Developments Limited to Report Fiscal Year 2020 Results on Feb 26, 2021

City Developments Limited Announces Executive Appointments

City Developments Limited Announces Board Changes

City Developments Limited Announces Resignation of Koh Thiam Hock as an Independent Non-Executive Director and A Member of Each of the Audit & Risk Committee, Remuneration Committee and Board Committee

City Developments Limited Appoints Chong Yoon Chou as Non-Executive and Independent Director

New 90-day low: €4.24

City Developments Limited Appoints Ong Lian Jin Colin as A Non-Executive and Independent Director, with Effect from 7 October 2020

New 90-day low: €4.70

City Developments Limited (SGX:C09) entered into an agreement to acquire 78-unit Residential Development in Yokohama City.