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CDL Hospitality Trusts
(SGX:J85)
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Rating:56Neutral
Price Target:
S$0.71
▼(-6.45% Downside)
Action:Reiterated
Date:08/04/26
Overall score reflects moderate fundamentals weighed down by 2025 net loss, rising leverage, and weaker operating cash flow versus 2024. Technicals are neutral with mild near-term support but no clear longer-term uptrend, while valuation is helped by a strong dividend yield but offset by a negative P/E tied to recent losses.
Positive Factors
Revenue Recovery
Revenue has grown steadily since 2020 and reached 267.6M in 2025, indicating recovering demand and improving top-line stability. For a hospitality portfolio, sustained revenue growth can support property income and distributions, provided operating conditions hold.
Negative Factors
Net Loss and Earnings Volatility
Net income turned negative at -29.5M in 2025 after profits in 2022–2024, even though EBIT and EBITDA remained positive. This volatility reduces earnings predictability and may constrain the consistency of distributions or retained funds for portfolio needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
Revenue has grown steadily since 2020 and reached 267.6M in 2025, indicating recovering demand and improving top-line stability. For a hospitality portfolio, sustained revenue growth can support property income and distributions, provided operating conditions hold.
Read all positive factors
CDL Hospitality Trusts (J85) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$898.17M
Dividend Yield7.1%
Average Volume (3M)1.69M
Price to Earnings (P/E)―
Beta (1Y)0.72
Revenue Growth4.40%
EPS Growth-1142.86%
CountrySG
Employees142
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)-0.01
Shares Outstanding1,283,104,700
10 Day Avg. Volume1,929,560
30 Day Avg. Volume1,687,946
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)0.59
Price to Sales (P/S)3.96
P/FCF Ratio26.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.86Price Target Upside12.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.05
Revenue Forecast (FY)S$272.29M
CDL Hospitality Trusts Business Overview & Revenue Model
Company Description
This distinctive stapled group comprises two core components: the CDL Hospitality Real Estate Investment Trust (H-REIT), which functions as a real estate investment trust, and the CDL Hospitality Business Trust (HBT), structured as a business trus...
How the Company Makes Money
CDL Hospitality Trusts makes money primarily by earning income from its hospitality real estate portfolio. The key revenue streams are: (1) rental and lease income received from operators/tenants under various hotel lease structures (e.g., fixed r...
CDL Hospitality Trusts Financial Statement Overview
Summary
Income Statement
57
Neutral
Balance Sheet
54
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 269.35M | 267.57M | 260.26M | 257.56M | 229.36M | 157.72M |
| Gross Profit | 165.52M | 129.69M | 135.22M | 169.39M | 123.72M | 86.11M |
| EBITDA | 110.82M | 59.49M | 98.16M | 118.81M | 145.46M | 101.76M |
| Net Income | -17.18M | -29.49M | 14.37M | 123.21M | 215.28M | 67.93M |
Balance Sheet | ||||||
| Total Assets | 3.46B | 3.48B | 3.45B | 3.30B | 3.10B | 2.92B |
| Cash, Cash Equivalents and Short-Term Investments | 87.58M | 87.06M | 78.29M | 72.00M | 96.93M | 139.46M |
| Total Debt | 1.31B | 1.39B | 1.48B | 1.29B | 1.21B | 1.19B |
| Total Liabilities | 1.44B | 1.69B | 1.61B | 1.42B | 1.31B | 1.28B |
| Stockholders Equity | 2.01B | 1.79B | 1.83B | 1.88B | 1.79B | 1.64B |
Cash Flow | ||||||
| Free Cash Flow | 89.32M | 39.31M | -47.74M | 34.96M | 60.53M | 41.00M |
| Operating Cash Flow | 89.32M | 63.24M | 120.71M | 123.77M | 116.41M | 62.53M |
| Investing Cash Flow | -23.19M | -41.79M | -167.04M | -87.30M | -98.22M | -43.87M |
| Financing Cash Flow | -55.68M | -14.11M | 54.19M | -61.52M | -51.93M | -7.16M |
CDL Hospitality Trusts Technical Analysis
Neutral
0.76
Price Trends
0.73
Negative
0.74
Negative
0.77
Negative
Market Momentum
>-0.01
Negative
44.03
Neutral
62.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:J85, the sentiment is Neutral. The current price of 0.76 is above the 20-day moving average (MA) of 0.70, above the 50-day MA of 0.73, and below the 200-day MA of 0.77, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 44.03 is Neutral, neither overbought nor oversold. The STOCH value of 62.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:J85.
CDL Hospitality Trusts Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | S$3.18B | 12.86 | 6.22% | 7.40% | 5.41% | 25.34% | |
68 Neutral | S$1.02B | 24.50 | 2.53% | 6.22% | 5.66% | 14.77% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | $262.41M | 10.51 | 5.55% | 10.37% | 2.71% | -14.82% | |
56 Neutral | S$898.17M | -52.24 | -0.87% | 7.10% | 4.40% | -1142.86% | |
48 Neutral | $133.42M | -5.04 | -6.67% | 3.70% | -3.80% | -16.28% |
* Real Estate Sector Average
SG:J85
CDL Hospitality Trusts
0.70
-0.09
-11.50%
SG:HMN
Ascott Residence
0.82
-0.08
-9.34%
SG:Q5T
Far East Hospitality Trust
0.50
-0.08
-14.24%
SG:XZL
ARA US Hospitality Trust
0.23
-0.04
-13.46%
SG:ODBU
United Hampshire US Real Estate Investment Trust
0.43
-0.03
-6.39%
SG:LIW
Eagle Hospitality Trust
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CDL Hospitality Trusts Corporate Events
CDL Hospitality Trusts Sets 29 October Date for Q3 2026 Operational Update
Oct 5, 2026
CDL Hospitality Trusts will release its operational update for the third quarter and nine-month period ended 30 September 2026 before trading begins on 29 October 2026. The announcement will come from MC REIT Management Limited and MC Business Tru...
CDL Hospitality Trusts Reshapes Boards With New Independent Director and Committee Roles
Aug 14, 2026
CDL Hospitality Trusts has announced board and committee changes, with Independent Non-Executive Director Ms Cheah Sui Ling stepping down in August 2026 from the boards of the REIT Manager and the Business Trust Trustee-Manager, and relinquishing ...
CDL Hospitality Trusts Pays Management Fees Through New Stapled Securities
Jul 30, 2026
CDL Hospitality Trusts has issued 2,350,130 new stapled securities to its managers as payment of 80 percent of their base management fees for the period from 1 April 2026 to 30 June 2026, at an issue price of S$0.7816 per stapled security. The uni...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.