- CapitaLand Investment (SGX:9CI)’s performance year-to-date remains steady with total revenue coming in at S$2.0bn. Revenue from its fee income-related business rose by +9% y-o-y to ~S$800m, which partially offsets the dip in its real estate investment business (-8% to S$1.4bn).
Operational performance in line
- - Read this at SGinvestors.io -
- A large part of the revenue increase in fee income comes from lodging management fees on the back of a robust 25% rebound in RevPAR and key count while its overall (REIT management and private funds) fees remain resilient.
3 reasons why we like CapitaLand Investment
- CapitaLand Investment is a net investor in 2023 with its private funds and selected REITs actively growing their portfolio while further opportunities for growth remain, given that close to S$10bn in funds is yet to be deployed.
- - Read this at SGinvestors.io -
- While its divestment target of S$3.0bn could be missed, we see investors looking past that, given a more subdued liquidity environment indicates sub-optimal potential for returns.
Key questions answered in management call
What is the possible valuations outlook come end-2023?
- Read more at SGinvestors.io.
