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Carindale Property Trust
(Sydney:CDP)
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Rating:72Outperform
Price Target:
AU$6.50
▲(15.04% Upside)
Action:Reiterated
Date:03/24/26
The score is driven primarily by improving financial performance (strong FY2025 profitability, healthier leverage, and solid operating cash flow) and a very attractive valuation (low P/E and high dividend yield). These positives are tempered by weaker technical positioning (below key moving averages with slightly negative MACD) and the company’s historically volatile earnings profile.
Positive Factors
Improving Leverage
Leverage reduction from ~0.64 to ~0.37 over the period indicates the REIT is de-risking its balance sheet. Lower gearing improves financial flexibility for capex or acquisitions, reduces refinancing risk, and supports steadier distributions over the next several quarters.
Negative Factors
Historical Earnings Volatility
The company's earnings history shows large swings (notably FY2020 loss and FY2022 spike), indicating sensitivity to valuation remeasurements, occupancy swings, or rental adjustments. This reduces predictability of cash flows and complicates medium-term forecasting.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Leverage
Leverage reduction from ~0.64 to ~0.37 over the period indicates the REIT is de-risking its balance sheet. Lower gearing improves financial flexibility for capex or acquisitions, reduces refinancing risk, and supports steadier distributions over the next several quarters.
Read all positive factors
Carindale Property Trust (CDP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$473.26M
Dividend Yield4.98%
Average Volume (3M)7.01K
Price to Earnings (P/E)11.4
Beta (1Y)0.06
Revenue Growth7.12%
EPS Growth63.40%
CountryAU
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.49
Shares Outstanding82,737,210
10 Day Avg. Volume5,834
30 Day Avg. Volume7,006
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.71
Price to Sales (P/S)6.43
P/FCF Ratio12.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.38
Revenue Forecast (FY)AU$48.15M
Carindale Property Trust Business Overview & Revenue Model
Company Description
Located approximately 12 kilometers southeast of Brisbane's city center, Westfield Carindale holds a prominent position in an affluent suburban area. It caters to a substantial trade catchment of around 690,000 individuals, offering convenient acc...
How the Company Makes Money
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Carindale Property Trust Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
72
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.90M | 61.59M | 57.87M | 54.90M | 52.72M | 50.11M |
| Gross Profit | 32.82M | 38.68M | 36.34M | 34.78M | 32.38M | 30.96M |
| EBITDA | 44.73M | 49.94M | 37.13M | 35.42M | 34.37M | 34.70M |
| Net Income | 40.27M | 39.15M | 7.62M | 8.02M | 66.52M | 39.42M |
Balance Sheet | ||||||
| Total Assets | 809.13M | 793.33M | 774.83M | 788.69M | 799.02M | 756.11M |
| Cash, Cash Equivalents and Short-Term Investments | 3.19M | 2.70M | 2.05M | 3.37M | 3.85M | 2.41M |
| Total Debt | 209.17M | 210.09M | 225.19M | 240.55M | 253.05M | 270.56M |
| Total Liabilities | 230.22M | 232.30M | 245.15M | 260.27M | 272.37M | 289.77M |
| Stockholders Equity | 578.90M | 561.02M | 529.68M | 528.42M | 526.65M | 466.34M |
Cash Flow | ||||||
| Free Cash Flow | 23.23M | 30.48M | 26.44M | 27.80M | 28.09M | 24.24M |
| Operating Cash Flow | 23.23M | 30.48M | 26.44M | 27.80M | 28.09M | 24.24M |
| Investing Cash Flow | -3.27M | -7.95M | -6.51M | -10.39M | -3.98M | -7.60M |
| Financing Cash Flow | -27.08M | -21.88M | -21.25M | -17.90M | -22.67M | -19.05M |
Carindale Property Trust Technical Analysis
Positive
5.65
Price Trends
5.36
Positive
5.31
Positive
5.28
Positive
Market Momentum
0.10
Negative
68.31
Neutral
40.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CDP, the sentiment is Positive. The current price of 5.65 is above the 20-day moving average (MA) of 5.50, above the 50-day MA of 5.36, and above the 200-day MA of 5.28, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 68.31 is Neutral, neither overbought nor oversold. The STOCH value of 40.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CDP.
Carindale Property Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$20.24B | 11.34 | 9.54% | 4.13% | 1.82% | 68.91% | |
73 Outperform | AU$2.99B | 8.28 | 11.25% | 4.87% | 7.04% | 11.89% | |
72 Outperform | AU$473.26M | 11.43 | 7.07% | 4.98% | 7.12% | 63.40% | |
71 Outperform | AU$12.25B | 9.02 | 11.52% | 4.72% | 0.27% | 60.68% | |
69 Neutral | AU$9.21B | 11.35 | 7.84% | 4.41% | 3.78% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | AU$2.24B | 6.58 | 12.47% | 7.72% | 18.68% | 105.99% |
* Real Estate Sector Average
AU:CDP
Carindale Property Trust
5.72
1.03
21.86%
AU:VCX
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2.64
0.22
9.09%
AU:GPT
GPT Group
4.81
-0.08
-1.64%
AU:SCG
Scentre Group
3.88
0.26
7.21%
AU:CQR
Charter Hall Retail REIT
3.85
0.20
5.48%
AU:BWP
BWP Trust
3.81
0.40
11.83%
Carindale Property Trust Corporate Events
Carindale Property Trust Announces Six-Month Distribution for June 2026 Period
Jun 24, 2026
Carindale Property Trust has declared a distribution of AUD 0.149415 per ordinary unit for the six-month period ending 30 June 2026, aligning its payout with the close of the financial reporting period. The distribution will trade ex on 29 June 20...
Carindale Property Trust Announces Departure of Director Without Security Interests
Apr 22, 2026
Carindale Property Trust, an Australian listed property trust specialising in retail property investments, operates through a trust structure in which investors hold units rather than traditional shares. The trust is overseen by a responsible enti...
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.