Carindale Property Trust (AU:CDP)
ASX:CDP
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Carindale Property Trust
(Sydney:CDP)
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Rating:72Outperform
Price Target:
AU$6.00
▲(6.19% Upside)
Action:ReiteratedDate: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
Material de‑leveraging over several years reduces refinancing and interest rate pressure for a retail REIT. Lower leverage increases balance sheet flexibility to fund maintenance, distributions or opportunistic asset work, supporting medium‑term stability of cash returns.
Negative Factors
Historical Earnings Volatility
Pronounced swings in reported earnings and asset valuations indicate sensitivity to one‑off fair value movements and cyclical retail conditions. This reduces confidence in headline net income as a steady measure of long‑run distributable cash and complicates forecasting for investors.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Leverage
Material de‑leveraging over several years reduces refinancing and interest rate pressure for a retail REIT. Lower leverage increases balance sheet flexibility to fund maintenance, distributions or opportunistic asset work, supporting medium‑term stability of cash returns.
Read all positive factors
Carindale Property Trust (CDP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$440.16M
Dividend Yield4.98%
Average Volume (3M)7.01K
Price to Earnings (P/E)3.9
Beta (1Y)0.07
Revenue Growth7.12%
EPS Growth63.40%
CountryAU
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.37
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)0.37
Revenue Forecast (FY)AU$45.41M
Carindale Property Trust Business Overview & Revenue Model
Company Description
Westfield Carindale is situated in an affluent quarter of Brisbane's south-eastern suburbs approximately 12 kilometres from the Brisbane CBD. The centre services a trade area population of approximately 690,000 with the nearby Gateway Motorway off...
How the Company Makes Money
CDP’s earnings primarily came from income generated by its retail property interests. The main revenue stream was rental income paid by retail tenants leasing space within the shopping centre(s), typically structured through base rent and, where a...
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 | 34.95M | 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
Negative
5.65
Price Trends
5.41
Negative
5.44
Negative
5.30
Positive
Market Momentum
-0.01
Negative
46.76
Neutral
8.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CDP, the sentiment is Negative. The current price of 5.65 is above the 20-day moving average (MA) of 5.37, above the 50-day MA of 5.41, and above the 200-day MA of 5.30, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 46.76 is Neutral, neither overbought nor oversold. The STOCH value of 8.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$2.59B | 2.94 | 11.96% | 6.09% | 5.78% | 79.44% | |
72 Outperform | AU$440.16M | 3.86 | 7.07% | 4.98% | 7.12% | 63.40% | |
70 Outperform | AU$2.64B | 3.79 | 10.68% | 5.61% | 24.34% | 131.89% | |
67 Neutral | AU$369.84M | 2.70 | 11.81% | 7.46% | -8.40% | 205.28% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | AU$2.24B | 2.46 | 12.47% | 7.72% | 18.68% | 105.99% | |
53 Neutral | AU$561.50M | 2.79 | 6.22% | 8.63% | 3.61% | ― |
* Real Estate Sector Average
AU:CDP
Carindale Property Trust
5.32
0.90
20.44%
AU:RGN
Region Group
2.29
0.12
5.72%
AU:CQR
Charter Hall Retail REIT
3.84
0.40
11.47%
AU:COF
Centuria Office REIT
0.94
-0.19
-16.59%
AU:DXC
Dexus Convenience Retail REIT
2.73
-0.08
-2.78%
AU:HDN
HomeCo Daily Needs REIT
1.24
0.09
7.77%
Carindale Property Trust Corporate Events
Carindale Property Trust details interim distribution and tax components
Feb 24, 2026
Carindale Property Trust has announced a distribution of 14.9415 cents per unit for the six months ended 31 December 2025, payable on 27 February 2026 for the income year ending 30 June 2026. The distribution comprises primarily a fund payment amo...
Carindale Property Trust Confirms Half-Year Distribution Details
Feb 23, 2026
Carindale Property Trust has updated investors with the actual distribution amount for the six-month period ended 31 December 2025, linked to its fully paid ordinary units. The notification confirms the relevant record and ex-dates for the distrib...
Carindale Property Trust Lifts Half-Year Profit and Distribution
Feb 23, 2026
Carindale Property Trust reported higher revenue, net property income, funds from operations and net profit for the half-year ended 31 December 2025 compared with the prior corresponding period, reflecting solid operational performance from its pr...
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.