SGX:J85

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CDL Hospitality Trusts

Executive Summary

CDL Hospitality Trusts (“CDLHT”) is one of Asia’s leading hospitality trusts with assets under management of about S$2.9 billion as at 31 December 2020. More Details


Snowflake Analysis

Reasonable growth potential and slightly overvalued.


Similar Companies

Share Price & News

How has CDL Hospitality Trusts's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: J85 is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: J85's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

0.8%

J85

0.5%

SG REITs

1.1%

SG Market


1 Year Return

-10.4%

J85

-12.3%

SG REITs

-4.0%

SG Market

Return vs Industry: J85 matched the SG REITs industry which returned -9.7% over the past year.

Return vs Market: J85 underperformed the SG Market which returned -3.7% over the past year.


Shareholder returns

J85IndustryMarket
7 Day0.8%0.5%1.1%
30 Day-2.4%-3.3%1.9%
90 Day-6.9%1.3%6.1%
1 Year-6.3%-10.4%-7.8%-12.3%1.0%-4.0%
3 Year-15.1%-27.5%18.4%-1.3%-7.1%-18.5%
5 Year30.5%-5.5%46.5%8.2%17.0%-4.4%

Long-Term Price Volatility Vs. Market

How volatile is CDL Hospitality Trusts's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CDL Hospitality Trusts undervalued compared to its fair value and its price relative to the market?

42.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: J85 (SGD1.23) is trading below our estimate of fair value (SGD2.1)

Significantly Below Fair Value: J85 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: J85 is unprofitable, so we can't compare its PE Ratio to the SG REITs industry average.

PE vs Market: J85 is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate J85's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: J85's PB Ratio (0.9x) is in line with the SG REITs industry average.


Next Steps

Future Growth

How is CDL Hospitality Trusts forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

105.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: J85 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: J85 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: J85's is expected to become profitable in the next 3 years.

Revenue vs Market: J85's revenue (19.8% per year) is forecast to grow faster than the SG market (9.2% per year).

High Growth Revenue: J85's revenue (19.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: J85's Return on Equity is forecast to be low in 3 years time (4.6%).


Next Steps

Past Performance

How has CDL Hospitality Trusts performed over the past 5 years?

-9.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: J85 is currently unprofitable.

Growing Profit Margin: J85 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: J85 is unprofitable, and losses have increased over the past 5 years at a rate of 9.3% per year.

Accelerating Growth: Unable to compare J85's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: J85 is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-29.3%).


Return on Equity

High ROE: J85 has a negative Return on Equity (-11.62%), as it is currently unprofitable.


Next Steps

Financial Health

How is CDL Hospitality Trusts's financial position?


Financial Position Analysis

Short Term Liabilities: J85's short term assets (SGD161.6M) do not cover its short term liabilities (SGD348.6M).

Long Term Liabilities: J85's short term assets (SGD161.6M) do not cover its long term liabilities (SGD878.1M).


Debt to Equity History and Analysis

Debt Level: J85's debt to equity ratio (63.2%) is considered high.

Reducing Debt: J85's debt to equity ratio has increased from 58.9% to 63.2% over the past 5 years.

Debt Coverage: J85's debt is not well covered by operating cash flow (4.8%).

Interest Coverage: J85 is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is CDL Hospitality Trusts's current dividend yield, its reliability and sustainability?

4.09%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: J85's dividend (4.02%) is higher than the bottom 25% of dividend payers in the SG market (2%).

High Dividend: J85's dividend (4.02%) is low compared to the top 25% of dividend payers in the SG market (4.71%).


Stability and Growth of Payments

Stable Dividend: J85's dividend payments have been volatile in the past 10 years.

Growing Dividend: J85's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (156.1%), J85's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: J85's dividends in 3 years are not forecast to be well covered by earnings (140.9% payout ratio).


Next Steps

Management

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

14.2yrs

Average management tenure


CEO

Vincent Yeo (51 yo)

14.67yrs

Tenure

S$50,000

Compensation

Mr. Wee Eng Yeo, also known as Vincent, has been the Chief Executive Officer of M&C Business Trust Management Limited and M&C Reit Management Limited since July 19, 2006. Mr. Yeo serves as the Chief Execut...


Leadership Team

NamePositionTenureCompensationOwnership
Wee Yeo
CEO & Executive Director of M&C REIT Management Limited and M&C Business Trust Management Ltd14.67yrsS$50.00k0.011%
SGD 172.5k
Poh Cheo Gan
Chief Financial Officer of M&C REIT Management Ltd and M&C Business Trust Management Ltd14.17yrsno datano data
Mandy Koo
Head of Investments & Investor Relations of M&C REIT Mgmt Ltd and M&C Business Trust Mgmt Ltdno datano datano data
Zhipeng Xie
Compliance Manager - M&C REIT Management Limited and M&C Business Trust Management Limited2.75yrsno datano data
Paul Kitamura
Head of Asset Management of M&C Reit Management Limited and M&C Business Trust Management Limitedno datano datano data
Peek Fong Ling
Company Secretary of M&C Reit Management Limited and M&C Business Trust Management Limitedno datano datano data
Lai Sun Soo
Company Secretary of M&C Reit Management Limited and M&C Business Trust Management Limitedno datano datano data

14.2yrs

Average Tenure

Experienced Management: J85's management team is seasoned and experienced (14.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Wee Yeo
CEO & Executive Director of M&C REIT Management Limited and M&C Business Trust Management Ltd14.67yrsS$50.00k0.011%
SGD 172.5k
Say Foo
Lead Independent Director of M&C REIT Management Ltd and M&C Business Trust Management Ltd3.92yrsS$135.00kno data
Kenny Kim
Independent Non-Executive Director of M&C REIT Management Ltd and M&C Business Trust Management Ltd4.17yrsS$90.00kno data
Lim Siang Seah
Non-Executive Independent Director of M&C REIT Management Ltd and M&C Business Trust Management Ltd7.42yrsS$100.00kno data
Soon Hee Chan
Chairman of the Board of M&C REIT Management Limited and M&C Business Trust Management Ltd2.75yrsS$80.00kno data
Sui Ling Cheah
Independent Non-Executive Director of M&C REIT Management Ltd and M&C Business Trust Management Ltd3.58yrsS$55.00kno data

4.0yrs

Average Tenure

57yo

Average Age

Experienced Board: J85's board of directors are considered experienced (4 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.


Ownership Breakdown

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


Top Shareholders

Company Information

CDL Hospitality Trusts's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CDL Hospitality Trusts
  • Ticker: J85
  • Exchange: SGX
  • Founded: 2006
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Market Cap: S$1.531b
  • Shares outstanding: 1.22b
  • Website: https://www.cdlht.com

Number of Employees


Location

  • CDL Hospitality Trusts
  • 390 Havelock Road
  • No. 02-05 King's Centre
  • Singapore
  • 169662
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
J85SGX (Singapore Exchange)YesStapled SecuritiesSGSGDJul 2006
CDHS.FOTCPK (Pink Sheets LLC)YesStapled SecuritiesUSUSDJul 2006

Biography

CDL Hospitality Trusts (“CDLHT”) is one of Asia’s leading hospitality trusts with assets under management of about S$2.9 billion as at 31 December 2020. CDLHT is a stapled group comprising CDL Hospitality ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/04 11:09
End of Day Share Price2021/03/04 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.