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Latest Forum Topics / CapitaLandInvest    Last:2.52    -0.01  Post Reply
CapitaLand Investment (SGX: 9CI)
Joelton
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07-Jan-2022 09:15     
 
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 Alert Admin
Steep valuation discount of Singapore property plays ' too good to ignore' , says DBS
WITH the latest property cooling measures, Singapore property players are currently trading at steep discounts, said DBS Group Research, which recommends that investors accumulate on the price weakness, because it believes that the market has already priced in the measures.
 
In a research note on Wednesday (Jan 5), real estate manager CapitaLand Investment CapitaLandInvest: 9CI +1.93%, and property developers City Developments (CDL) CityDev: C09 +0.15% and Ho Bee Land Ho Bee Land: H13 +1.44% were named as the research house' s preferred picks for the sector.
 
Analysts Derek Tan and Rachel Tan said property plays here offer deep value, given that the FTSE ST Real Estate Holding and Development Index (FSTREH) currently trades at a multi-year low of 0.55 times price to net asset value (NAV) - at 1 standard deviation below its 5-year mean.
 
It has been lower than this only during the recessions of 2009 and 2020.
 
The analysts said: " With most developers' price to NAV multiples even below the trough levels seen in past cooling measures, we believe that most negatives are priced in and do not see further downsides."
 
While property developers experienced negative knee-jerk price reactions to the announcement of the cooling measures, the 2 analysts noted that the sector' s overall performance was " fairly muted this time round" , with prices falling within a range of between 1 and 5 per cent.
 
The pair also said they believe strong pre-sale trends are likely to shield the developers they cover from potential risks. They noted that most of the developers covered by the research house had pre-sold roughly three-quarters their inventory as at the end of last year.
 
CDL, UOL Group and Wing Tai all achieved pre-sales of about 80 to 95 per cent of their inventories Guocoland' s core central region-focused projects hit close to 67 per cent pre-sales within 2 years of launch.
 
" So even if we see weakness in the market, the actual impact on developers will likely be marginal for most," they said.
 
Many developers are also looking to pivot towards building a recurring income base of commercial and hospitality assets to ride the rebound and drive stronger cash flows and NAVs in 2022, they added.
 
Still, while valuations are attractive, the DBS analysts noted that the slowing property market - in terms of both volume and prices - may cap the sector' s overall performance ahead.
 
Therefore, they believe the sector is likely to trade in line with the Straits Times Index in the meantime.
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beetlejuice
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06-Jan-2022 17:48     
 
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 Alert Admin 		CLI now is a better focused & asset light company then Capland in the past. So strong incentive to hold for higher dividend & capital appreciation.

ROUTE66      ( Date: 06-Jan-2022 16:06) Posted:

Good for you ! 

I bought Capitaland shares at prices ranging from $2.56-2.95 in 2020 when there was a massive selldown.

The Capitaland restructuring exercise last year was akin to a godsend for me, a newbie investor.

I' m grateful and will stay vested for the long haul.

 

beetlejuice      ( Date: 06-Jan-2022 15:13) Posted:

I am lucky I block out all the noises. Bought as capland (average $3.18 after dividends) & now become 11000 CLI shares plus 1700 CICT shares. Am doing the same tactic for Keppel. Hope for another rewarding experience this year.


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Lobster
Elite
06-Jan-2022 17:35     
 
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 Alert Admin 		Closed at day' s high of $3.69..... 
I did not make any comment or post anything yesterday, even when it was going as high as $3.77.
Because I expected there would be profit taking, in spite of optimism all round.
But I must add, profit taking is healthy, especially when a stock has momentum.

I only worried there are too many with weak pockets playing contras.
 
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Lobster
Elite
06-Jan-2022 17:28     
 
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 Alert Admin 		Bond is a different instrument, I don' t know what' s your minimum capital outlay and the restriction length you need to hold before you can redeem, or if can trade in open market. but if 4% it' s pretty good... You must have held for quite long to get this type of interest...Nowadays, its impossible to get this kind of rate.... Also if you are allowed to trade, I believe for bond the bid price and ask price is quite spread apart.

But there' s quite a difference between bond and shares in many ways...... one is the number of units you can hold, the other is the restrictions in trading.....For Capitaland shares, besides the handsome dividends there' s always the promise of good capital gains, and of course like all shares there' s always other benefits to look forward to, like a rights or bonus issue, the flexibility of dividends in species, ie. to reinvest your dividends into the company at a discount.... The cash distribution and free shares (in CICT) from the demerger, as one bro described, was " god send" ... YOU don' t find, or can' t find such " perks" in a bond subscription....And for OCBC is quite safe... but for some others maybe quite risky....   Hyflux which paid   6% for its bonds is a classic example......Anyway,   to each his own.

ROUTE66      ( Date: 06-Jan-2022 16:33) Posted:

Hello Lobster, correct me if I' m wrong but my OCBC bond' s yield is slightly above 4%.  So, a dividend of 4% isn' t all that impressive to me.

Lobster      ( Date: 06-Jan-2022 16:22) Posted:

After CICT, and then CLCT, it will be followed by solid Ascott, the mother of all hospitality stocks, and Ascendas, the Chosen Descendant of mighty JTC. Then it will plus plus it' s other earnings and gains from its other investments and management business. People forgot that it is no longer a brick and mortar company, where its legs will go jelly, every time there' s a cooling measure or regulatory restrictions.

Even if the price shoot to four dollars, note that the dividend yield would still be around 4%. Where to find
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ROUTE66
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06-Jan-2022 16:33     
 
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 Alert Admin 		Hello Lobster, correct me if I' m wrong but my OCBC bond' s yield is slightly above 4%.  So, a dividend of 4% isn' t all that impressive to me.

Lobster      ( Date: 06-Jan-2022 16:22) Posted:

After CICT, and then CLCT, it will be followed by solid Ascott, the mother of all hospitality stocks, and Ascendas, the Chosen Descendant of mighty JTC. Then it will plus plus it' s other earnings and gains from its other investments and management business. People forgot that it is no longer a brick and mortar company, where its legs will go jelly, every time there' s a cooling measure or regulatory restrictions.

Even if the price shoot to four dollars, note that the dividend yield would still be around 4%. Where to find?

Lobster      ( Date: 06-Jan-2022 10:53) Posted:

After CICT, will   be followed by amazing CLct results.... and dividends.....
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Lobster
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06-Jan-2022 16:22     
 
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 Alert Admin 		After CICT, and then CLCT, it will be followed by solid Ascott, the mother of all hospitality stocks, and Ascendas, the Chosen Descendant of mighty JTC. Then it will plus plus it' s other earnings and gains from its other investments and management business. People forgot that it is no longer a brick and mortar company, where its legs will go jelly, every time there' s a cooling measure or regulatory restrictions.

Even if the price shoot to four dollars, note that the dividend yield would still be around 4%. Where to find?

Lobster      ( Date: 06-Jan-2022 10:53) Posted:

After CICT, will   be followed by amazing CLct results.... and dividends.....
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ROUTE66
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06-Jan-2022 16:06     
 
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 Alert Admin 		Good for you ! 

I bought Capitaland shares at prices ranging from $2.56-2.95 in 2020 when there was a massive selldown.

The Capitaland restructuring exercise last year was akin to a godsend for me, a newbie investor.

I' m grateful and will stay vested for the long haul.

 

beetlejuice      ( Date: 06-Jan-2022 15:13) Posted:

I am lucky I block out all the noises. Bought as capland (average $3.18 after dividends) & now become 11000 CLI shares plus 1700 CICT shares. Am doing the same tactic for Keppel. Hope for another rewarding experience this year.

stonkmaster      ( Date: 06-Jan-2022 12:29) Posted:

I?m one of the real loser who sold at 2.97 because some idiot here say will fall to 2.7. Now regretting big time
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beetlejuice
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06-Jan-2022 15:17     
 
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 Alert Admin 		Yes, I believe dividend now will be more than as capland. 💰

Lobster      ( Date: 05-Jan-2022 23:23) Posted:

In three weeks time, CICT will be the first among CLI stable of REITs to announce its results.
it will give a clear indication of the direction and performance of the company.
I expecting between 15 to 18 c dividends for CLI. Any thing less will be a disappointment.
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beetlejuice
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06-Jan-2022 15:13     
 
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 Alert Admin 		I am lucky I block out all the noises. Bought as capland (average $3.18 after dividends) & now become 11000 CLI shares plus 1700 CICT shares. Am doing the same tactic for Keppel. Hope for another rewarding experience this year.

stonkmaster      ( Date: 06-Jan-2022 12:29) Posted:

I?m one of the real loser who sold at 2.97 because some idiot here say will fall to 2.7. Now regretting big time.

tguanhoc      ( Date: 05-Jan-2022 17:20) Posted:

Just because STI was down, these KS retail investors were frantically selling down the CLI share price to $3.59.   The BBs and probably Temasek/Capitaland have to mop up the shares up to $3.62.   These retail investors must have already forgotten that the CLI target price of $4.00.

Retail investors are the real losers just like those who sold off at $3.40.  


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Shane1702
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06-Jan-2022 14:54     
 
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 Alert Admin 		I do hope this is a more than $4 share. Else really no purpose to restructure the earlier portfolio

tguanhoc      ( Date: 05-Jan-2022 17:20) Posted:

Just because STI was down, these KS retail investors were frantically selling down the CLI share price to $3.59.   The BBs and probably Temasek/Capitaland have to mop up the shares up to $3.62.   These retail investors must have already forgotten that the CLI target price of $4.00.

Retail investors are the real losers just like those who sold off at $3.40.  

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stonkmaster
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06-Jan-2022 12:29     
 
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 Alert Admin 		I?m one of the real loser who sold at 2.97 because some idiot here say will fall to 2.7. Now regretting big time.

tguanhoc      ( Date: 05-Jan-2022 17:20) Posted:

Just because STI was down, these KS retail investors were frantically selling down the CLI share price to $3.59.   The BBs and probably Temasek/Capitaland have to mop up the shares up to $3.62.   These retail investors must have already forgotten that the CLI target price of $4.00.

Retail investors are the real losers just like those who sold off at $3.40.  

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Lobster
Elite
06-Jan-2022 10:53     
 
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 Alert Admin 		After CICT, will   be followed by amazing CLct results.... and dividends.....
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Lobster
Elite
05-Jan-2022 23:23     
 
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 Alert Admin 		In three weeks time, CICT will be the first among CLI stable of REITs to announce its results.
it will give a clear indication of the direction and performance of the company.
I expecting between 15 to 18 c dividends for CLI. Any thing less will be a disappointment.
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tguanhoc
Senior
05-Jan-2022 17:20     
 
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 Alert Admin 		Just because STI was down, these KS retail investors were frantically selling down the CLI share price to $3.59.   The BBs and probably Temasek/Capitaland have to mop up the shares up to $3.62.   These retail investors must have already forgotten that the CLI target price of $4.00.

Retail investors are the real losers just like those who sold off at $3.40.  
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invest8
Senior
05-Jan-2022 12:02     
 
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 Alert Admin 		' We are CapitaLand.  We must aim high and build a truly successful and lasting global company headquartered in Singapore, and not simply a Singapore company trying to go global.' -  Lee Chee Koon, CapitaLand Investment (CLI) Group CEO.
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invest8
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04-Jan-2022 20:26     
 
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 Alert Admin 		' CLI is not a new CapitaLand,  but one with a sharpened focus  and an exciting future.' -  Lee Chee Koon,  Group CEO,  CapitaLand Investment (CLI).
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invest8
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04-Jan-2022 17:33     
 
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 Alert Admin 		wow... today close at $3.66 record high, near day high.  smiley

invest8      ( Date: 16-Dec-2021 21:49) Posted:

经 得 起 考 验 .. looking good.  wink
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Lobster
Elite
04-Jan-2022 16:10     
 
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 Alert Admin 		$3.64 smashed, now standing on $3.65 high ground....

Lobster      ( Date: 04-Jan-2022 16:04) Posted:

$3.63 smashed, touched $3.65 briefly .....

Lobster      ( Date: 04-Jan-2022 15:20) Posted:

$3.62 resistance broken, now hitting $3.63, like darts....
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Lobster
Elite
04-Jan-2022 16:04     
 
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 Alert Admin 		$3.63 smashed, touched $3.65 briefly .....

Lobster      ( Date: 04-Jan-2022 15:20) Posted:

$3.62 resistance broken, now hitting $3.63, like darts....
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Lobster
Elite
04-Jan-2022 15:29     
 
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 Alert Admin 		Even DBS copycat coffee shop uncles views.... but this sort of price target if got no black market interests , also no use.. look at YZJ for example, in November so many brokers give TP price of between $1.91 to $2.00 including mighty DBS who has it as $1.95 TP but the stock never move AN INCH, until towards end December when the coffee shops uncles make their move... I m not joking, read all my posts there
DBS reinitiates ' buy' on CapitaLand Investment with S$4 target

DBS Group Research on Monday (Jan 3) reinitiated coverage on real estate manager CapitaLand Investment (CLI)  CapitaLandInvest: 9CI +4.31%  with a " buy" call and a target price of S$4, which represents a potential upside of 17 per cent from the counter' s trading price of S$3.41 as at Dec 31.

Shares of CLI were trading at S$3.49, up S$0.08 or 2.4 per cent, as at 4.24 pm on Monday.

In its report, the DBS research team highlighted CLI' s positive performance since its demerger.

This is given how the stock' s share price has climbed by about 18 per cent from  the day of its listing  and now trades at 1.2 times price to net asset value (P/NAV) - which is about a 40 per cent premium to the average 0.7 times P/NAV that CapitaLand traded over the past 5 years.

" The stock has also closed the gap with listed real estate investment managers, which average about 2.5 times P/NAV," DBS noted.

The re-initiation comes as DBS sees catalysts emerging for CLI to drive a 3-year net profit compound annual growth rate (CAGR) of 12 per cent over FY2021 to FY2024.

It is expecting CLI' s overall revenues to grow by 10 per cent in its financial year of 2022 (FY22F), mainly on the back of " robust growth" in fees from funds under management (FUM) as the group looks to add more private equity fund products to its portfolio.

Potential catalysts include the launch of new fund products and real estate investment trust (Reit) acquisitions, with the group' s aim to grow FUM to S$100 billion by 2024, up 19 per cent from 2021.

In DBS' view, CLI' s managed Reits remain on an acquisition growth path in the coming years. It also likes CLI for its " unique business model" of being a manager of both private funds and Reits, which enables the group to be active across business cycles and make opportunistic acquisitions.

The research house estimates that CLI, through its Reits and private equity funds, will grow its total FUM to close to S$100 billion by 2024 from its current FUM of S$53.4 billion as of 3Q FY2021.

It has also assumed in its forecasts that the group will grow its assets under management (AUM) by S$4 billion per year to reach a targeted S$36 billion by end-2023.

Across CLI' s portfolio of Reits alone, DBS is assuming AUM will grow by S$3 billion until 2024, with 80 per cent of the acquisition value to come from Ascendas Reit, CapitaLand Integrated Commercial Trust, and Ascott Residence Trust.

The research team also expects a recovery of CLI' s lodging business, The Ascott, to drive a turnaround in cashflows for the group following the reopening of international borders.

It projects the lodging sector' s revenue per available unit to recover by 40 per cent year on year in FY2022, and about 29 per cent in FY2023 to reach 70 per cent and 90 per cent of pre-Covid levels, respectively.

" With domestic travel starting since H1 2021 and planned cross-border travel to pick up steam through the course of 2022, we project operational improvements towards pre-Covid levels come FY2022 to FY2024," said the team.

While DBS has predicted strong growth for CLI overall, one risk highlighted by its team includes higher 10-year yields, which could potentially drive real estate capitalisation rates higher. This may result in a potential drop in real estate values, which may in turn have an impact on CLI' s overall FUM and its fee income business, it added.

 
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