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Carindale Property Trust
(Sydney:CDP)
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Rating:72Outperform
Price Target:
AU$6.00
â–²(6.19% Upside)
Action:Reiterated
Date:08/26/26
The score is driven primarily by improving financial performance (notably 2026 growth and a strengthening balance sheet), tempered by earnings-quality concerns from volatile profitability and weaker cash conversion versus net income. Valuation is supportive due to a moderate P/E and attractive dividend yield, while technicals are mildly positive but not strong enough to materially lift the overall score.
Positive Factors
Revenue Growth
The latest acceleration indicates stronger property earnings and improved operating momentum than the historical baseline. If sustained, higher revenue can support distributions and fixed-cost absorption, although the unusually large increase warrants monitoring for one-off contributors.
Negative Factors
Earnings Volatility
Large swings in margins reduce confidence that reported earnings represent a stable operating run rate. Possible non-recurring items or valuation effects make future profitability harder to forecast and could weaken distribution visibility if earnings normalize.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The latest acceleration indicates stronger property earnings and improved operating momentum than the historical baseline. If sustained, higher revenue can support distributions and fixed-cost absorption, although the unusually large increase warrants monitoring for one-off contributors.
Read all positive factors
Carindale Property Trust (CDP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$460.02M
Dividend Yield5.34%
Average Volume (3M)7.01K
Price to Earnings (P/E)11.3
Beta (1Y)>-0.01
Revenue Growth4.82%
EPS Growth48.02%
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 Ratio0.17
Price to Book (P/B)0.80
Price to Sales (P/S)7.36
P/FCF Ratio15.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$5.80Price Target Upside2.65% Upside
Rating ConsensusHold
Number of Analyst Covering1
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
78
Positive
Balance Sheet
72
Positive
Cash Flow
69
Positive
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.90M | 64.55M | 61.59M | 57.87M | 54.90M | 52.72M |
| Gross Profit | 32.82M | 46.12M | 38.68M | 36.34M | 34.78M | 32.38M |
| EBITDA | 44.73M | 68.92M | 49.94M | 37.13M | 35.42M | 34.37M |
| Net Income | 40.27M | 59.02M | 39.15M | 7.62M | 8.02M | 66.52M |
Balance Sheet | ||||||
| Total Assets | 809.13M | 822.37M | 793.33M | 774.83M | 788.69M | 799.02M |
| Cash, Cash Equivalents and Short-Term Investments | 3.19M | 3.13M | 2.70M | 2.05M | 3.37M | 3.85M |
| Total Debt | 209.17M | 205.68M | 210.09M | 225.19M | 240.55M | 253.05M |
| Total Liabilities | 230.22M | 227.06M | 232.30M | 245.15M | 260.27M | 272.37M |
| Stockholders Equity | 578.90M | 595.31M | 561.02M | 529.68M | 528.42M | 526.65M |
Cash Flow | ||||||
| Free Cash Flow | 23.23M | 31.35M | 30.48M | 26.44M | 27.80M | 28.09M |
| Operating Cash Flow | 23.23M | 31.35M | 30.48M | 26.44M | 27.80M | 28.09M |
| Investing Cash Flow | -3.27M | -2.67M | -7.95M | -6.51M | -10.39M | -3.98M |
| Financing Cash Flow | -27.08M | -28.25M | -21.88M | -21.25M | -17.90M | -22.67M |
Carindale Property Trust Technical Analysis
Positive
5.65
Price Trends
5.51
Positive
5.39
Positive
5.34
Positive
Market Momentum
<0.01
Negative
58.95
Neutral
75.00
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 5.47, above the 50-day MA of 5.51, and above the 200-day MA of 5.34, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 58.95 is Neutral, neither overbought nor oversold. The STOCH value of 75.00 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$2.31B | 5.93 | 13.47% | 6.57% | 31.33% | 82.16% | |
74 Outperform | AU$8.96B | 8.60 | 9.83% | 4.90% | -7.59% | 178.60% | |
73 Outperform | AU$19.15B | 10.74 | 9.54% | 4.45% | -3.71% | 37.55% | |
73 Outperform | AU$2.93B | 6.61 | 11.25% | 4.87% | 2.96% | 50.62% | |
72 Outperform | AU$460.02M | 11.35 | 7.07% | 4.98% | 4.82% | 48.02% | |
71 Outperform | AU$12.02B | 8.13 | 11.65% | 4.66% | 2.65% | 37.05% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
AU:CDP
Carindale Property Trust
5.60
0.50
9.76%
AU:VCX
Vicinity Centres
2.52
0.04
1.78%
AU:GPT
GPT Group
4.69
-0.66
-12.30%
AU:SCG
Scentre Group
3.58
-0.29
-7.57%
AU:CQR
Charter Hall Retail REIT
3.98
0.02
0.51%
AU:BWP
BWP Trust
3.71
0.28
8.29%
Carindale Property Trust Corporate Events
Carindale Property Trust Details Tax Components of June 2026 Distribution
Aug 25, 2026
Carindale Property Trust has announced the components of its distribution for the six months ended 30 June 2026, declaring a cash payment of 14.9415 cents per unit to be paid on 31 August 2026 for the income year to 30 June 2026. The trust has det...
Carindale Property Trust Updates ASX Corporate Governance Disclosures
Aug 24, 2026
Carindale Property Trust has lodged its updated corporate governance statement and Appendix 4G with the ASX for the year ended 30 June 2026, confirming compliance with the exchange’s disclosure rules. The trust’s governance structure, ...
Carindale Property Trust lifts FY26 earnings on strong Westfield Carindale performance
Aug 24, 2026
Carindale Property Trust reported FY26 Funds From Operations of $32.3 million, an 8.8% increase, and statutory profit of $59 million, supported by a $25.6 million unrealised property valuation gain. Distributions rose 5% to $24.7 million, or 29.88...
Carindale Property Trust Confirms Actual Distribution for June 2026 Period
Aug 24, 2026
Carindale Property Trust, an Australian retail-focused property trust listed on the ASX under the code CDP, owns and operates the Carindale shopping centre in Brisbane and distributes income to investors through its ordinary units. The trust’...
Carindale Property Trust Lifts Revenue and Distributions for 2026
Aug 24, 2026
Carindale Property Trust reported a 4.8% rise in revenue to $64.6 million for the year ended 30 June 2026, alongside higher net property income, funds from operations and net profit attributable to members compared with the prior year. The trust&#...
Scentre Group Adds Tech-Focused Director to Boards of Scentre and Carindale Property Trust
Aug 24, 2026
Scentre Group has appointed Karim Temsamani as an independent non-executive director, effective 1 September 2026, and he will also join the board of Scentre Management Limited, the responsible entity of Carindale Property Trust. Temsamani’s ...
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...
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.