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CapitaLand Investment Limited (SG:9CI)
SGX:9CI
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CapitaLand Investment Limited (9CI) AI Stock Analysis

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SG:9CI

CapitaLand Investment Limited

(SGX:9CI)

Rating:58Neutral
Price Target:
S$3.00
▲(11.11% Upside)
CapitaLand Investment Limited's overall score is driven by solid financial performance and bullish technical momentum. However, high valuation and overbought technical indicators present risks. The absence of earnings call and corporate events data means these factors do not influence the score.
Positive Factors
Dividend Policy
CLI has revised its dividend payout policy to a minimum 50% of cash PATMI, up from 30% previously, to enhance shareholder returns.
Recurring Fee Income
Recurring fee income rose 5% YoY, driven by a 6% increase in REIT management fees and a 4.4% increase in lodging management fees.
Resilience Strategy
Analyst maintains BUY with an unchanged SOTP TP of S$3.65, favoring CLI for its robust and expanding recurring fee income stream and asset-light strategy, which underpins resilience amid macro uncertainty.
Negative Factors
Earnings Shortfall
1H25 PATMI was S$287mn (-13.3% YoY), forming 37% of FY25e forecast and below expectations due to absence of contributions from divested assets and lower fund performance and transaction fees.
Geopolitical Tensions
Event-driven fees remain under pressure due to heightened geopolitical tensions, leading to slower investment decision-making.
Real Estate Revenue Decline
CLI posted a 24% drop in 1H25 revenue to S$1.04bn, due to deconsolidation of Capitaland Ascott Trust.

CapitaLand Investment Limited (9CI) vs. iShares MSCI Singapore ETF (EWS)

CapitaLand Investment Limited Business Overview & Revenue Model

Company DescriptionCapitaLand Investment Limited is a real estate investment manager of CapitaLand Group. Its diversified real estate asset classes cover integrated developments, retail, office, lodging and new economy sectors such as business parks, industrial, logistics and data centers. We invest primarily in China and India along with Asia-Pacific, Europe, and the USA. CapitaLand Investment Limited was founded in 2002 and is headquartered in Singapore.
How the Company Makes MoneyCapitaLand Investment Limited generates revenue primarily through its fee-based asset-light business model. The company earns management fees from its real estate investment management services, which include managing funds and properties for private and public investors. Additionally, CapitaLand Investment Limited derives income from rental revenue and property development activities. The firm also benefits from strategic partnerships with global investors and institutional clients, which enhance its ability to manage a diversified and high-quality portfolio, contributing significantly to its earnings.

CapitaLand Investment Limited Financial Statement Overview

Summary
CapitaLand Investment Limited shows solid financial performance with strong profitability, improved profit margins, and reduced leverage. However, a decline in EBIT and free cash flow growth slightly dampens the outlook.
Income Statement
72
Positive
CapitaLand Investment Limited demonstrates a solid income statement with a healthy gross profit margin of 44.9% and an improving net profit margin of 17% in 2024, up from 6.5% in 2023. The revenue growth rate is modest at 1.1% compared to the previous year. The EBIT and EBITDA margins remain strong at 23.5% and 50.5% respectively, indicating effective cost control and operational efficiency. However, there is a notable decline in EBIT from 2023 to 2024, which slightly dampens the overall strength.
Balance Sheet
65
Positive
The balance sheet shows a stable equity position with an equity ratio of 54.8%. The debt-to-equity ratio improved significantly to 0.58 in 2024, reflecting reduced leverage and better financial health. ROE is relatively strong at 3.5%, though it has room for improvement. The company's total assets decreased compared to previous years, indicating a potential strategic shift or asset divestment.
Cash Flow
68
Positive
The cash flow statement highlights a robust free cash flow generation with a slight decline in free cash flow growth to -17.7% in 2024 from 2023. Operating cash flow remains healthy with an operating cash flow to net income ratio of 1.17, showcasing effective cash conversion. The free cash flow to net income ratio is 1.13, indicating good cash flow management. However, there is a decrease in operating cash flow compared to previous years.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue2.81B2.78B2.88B2.29B1.98B
Gross Profit1.26B1.26B1.29B1.06B872.00M
EBITDA1.42B1.03B1.93B2.32B-33.00M
Net Income479.00M181.00M861.00M1.35B-673.00M
Balance Sheet
Total Assets24.71B34.13B35.11B37.65B38.22B
Cash, Cash Equivalents and Short-Term Investments2.31B2.46B2.67B3.88B1.68B
Total Debt7.90B12.72B12.77B13.63B19.66B
Total Liabilities10.30B15.90B16.18B17.55B22.49B
Stockholders Equity13.55B14.36B15.53B16.44B12.27B
Cash Flow
Free Cash Flow542.00M659.00M579.00M625.00M139.00M
Operating Cash Flow561.00M682.00M735.00M667.00M183.00M
Investing Cash Flow2.57B-187.00M-382.00M1.27B1.07B
Financing Cash Flow-3.25B-637.00M-1.37B223.00M-972.00M

CapitaLand Investment Limited Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price2.70
Price Trends
50DMA
2.71
Negative
100DMA
2.60
Positive
200DMA
2.52
Positive
Market Momentum
MACD
>-0.01
Positive
RSI
44.66
Neutral
STOCH
28.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:9CI, the sentiment is Neutral. The current price of 2.7 is below the 20-day moving average (MA) of 2.77, below the 50-day MA of 2.71, and above the 200-day MA of 2.52, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.66 is Neutral, neither overbought nor oversold. The STOCH value of 28.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:9CI.

CapitaLand Investment Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
58
Neutral
S$13.83B30.963.35%4.43%-11.37%171.65%
53
Neutral
$1.23B2.70-5.63%5.63%-2.28%-110.71%
$13.25B17.016.41%5.48%
$3.57B20.605.08%5.37%
$4.07B15.9110.81%2.45%
$4.60B35.422.72%7.06%
$4.73B14.443.80%2.45%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:9CI
CapitaLand Investment Limited
2.70
0.25
10.20%
CPAMF
CapitaLand Mall
1.75
0.25
16.67%
FRZCF
Frasers Centrepoint
1.76
-0.27
-13.30%
KPDCF
Keppel DC REIT
1.96
0.80
68.97%
MAPGF
Mapletree Logistics
0.94
-0.03
-3.09%
UOLGF
UOL Group
5.67
1.65
41.04%

CapitaLand Investment Limited Corporate Events

CICT Reports 12.4% Growth in Distributable Income for 1H 2025
Aug 5, 2025

CapitaLand Integrated Commercial Trust (CICT) reported a 12.4% increase in distributable income for the first half of 2025, reaching S$411.9 million. This growth was driven by contributions from the newly acquired ION Orchard and effective portfolio management, despite a slight decrease in gross revenue and net property income due to the divestment of 21 Collyer Quay. The Trust’s distribution per unit rose by 3.5% to 5.62 cents, reflecting strong financial performance and strategic asset management. CICT’s ongoing asset enhancement initiatives and recent divestments aim to boost financial flexibility and maintain resilience in a challenging economic environment.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Ascendas REIT Reports Stable Income and Strategic Acquisitions for 1H 2025
Aug 4, 2025

CapitaLand Ascendas REIT reported a stable distributable income of S$331.1 million for the first half of 2025, with a distribution per unit of 7.477 Singapore cents. The REIT maintained a healthy portfolio occupancy of 91.8% and achieved a positive rental reversion of 9.5% on renewed leases. The company completed accretive acquisitions worth S$878.0 million and a redevelopment project in Singapore, enhancing its portfolio quality and long-term returns.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Ascott Trust Proposes Divestment of Tokyo Property
Jul 31, 2025

CapitaLand Ascott Trust has announced the proposed divestment of Citadines Central Shinjuku Tokyo to ML Estate Co., Ltd., an unrelated third party. This transaction is part of the Trust’s strategic asset management approach, potentially impacting its portfolio and financial performance, subject to approval by its Stapled Securityholders.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand India Trust Reports Strong Financial Growth in 1H FY 2025
Jul 30, 2025

CapitaLand India Trust reported a 9% increase in its distribution per unit (DPU) for the first half of fiscal year 2025 compared to the same period last year. The trust’s net property income grew by 14% in Indian Rupee terms, reflecting strong operational performance and effective management strategies. This financial growth highlights the trust’s robust market positioning and potential for continued stakeholder value enhancement.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.95 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand China Trust Reports 1H 2025 Financials and Strategic Moves
Jul 30, 2025

CapitaLand China Trust reported a net property income of RMB580.3 million for the first half of 2025, impacted by lower gross revenue due to supermarket upgrades and lower business park occupancy. However, the logistics parks portfolio showed a 2.0% year-on-year increase. The Distribution Per Unit was affected by a decline in net property income and currency fluctuations, partially offset by reduced finance costs. CLCT received Unitholders’ approval for the divestment of CapitaMall Yuhuating to CapitaLand Commercial C-REIT and plans to subscribe for a strategic stake in CLCR. The company is focusing on repositioning its retail malls and aligning its business parks and logistics with China’s technology sectors.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Ascott Trust Reports 6% Profit Growth and Announces Asset Enhancements
Jul 29, 2025

CapitaLand Ascott Trust reported a 6% increase in gross profit for the first half of 2025, reaching S$182.5 million, driven by stronger operating performance and strategic asset enhancement initiatives. The company also announced plans to enhance three additional properties to boost profitability and asset value, maintaining stable core distributions and demonstrating resilience despite global uncertainties. This growth is supported by a diversified portfolio and a strategy of reconstituting and enhancing assets to deliver sustainable returns to stakeholders.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment’s 2024 Sustainability Report Highlights Decarbonisation Efforts
Jul 7, 2025

CapitaLand Investment has released its 16th Global Sustainability Report, highlighting its commitment to sustainability and decarbonisation. The report introduces a new ‘Return on Sustainability’ model to evaluate the financial returns of green investments and showcases CLI’s progress in renewable energy usage, green leases, and sustainable finance. Notable achievements include a rise in renewable energy usage to 7.3% across its portfolio, a 17% growth in green leases, and over S$4.3 billion raised in sustainable finance. CLI also emphasizes gender diversity with 30% women on its board and 37% in senior management. Since 2019, the company has reduced energy consumption intensity by 11% and achieved significant green building certifications.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand China Trust to Participate in CapitaLand Commercial C-REIT Listing
Jun 12, 2025

CapitaLand China Trust has announced its proposed participation in the establishment and listing of CapitaLand Commercial C-REIT on the Shanghai Stock Exchange. This involves the divestment of its equity interest in CapitaMalls Hunan Commercial Property Co., Ltd. and a subscription for 5% of the IPO units, indicating a strategic move to enhance its investment portfolio and presence in the Chinese market.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Expands Fund with Tokyo Asset Acquisition
Jun 9, 2025

CapitaLand Investment Limited has secured additional capital commitments for its CapitaLand Ascott Residence Asia Fund II (CLARA II), reflecting strong investor interest in repositioning underutilized assets into high-performing living assets in key Asia Pacific cities. The fund, along with its co-investors, has acquired a prime mixed-use asset in Tokyo for over JPY30 billion, increasing CLI’s funds under management by approximately S$470 million. This acquisition is part of CLI’s strategy to capitalize on market opportunities in the hospitality sector, leveraging its expertise and brand reputation to enhance asset value and deliver attractive yields.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Malaysia Trust Announces Strategic Unit Placement to Raise RM250 Million
Jun 3, 2025

CapitaLand Malaysia Trust (CLMT) has announced a proposed placement of up to 435.4 million new units, representing approximately 14.9% of the total units in issue, to raise up to RM250 million. This move is part of a strategic effort to enhance liquidity and strengthen its capital base, with the new units being allotted to existing stakeholders such as CMMT Investment Limited, Menang Investment Limited, and institutional investors like the Employees Provident Fund Board. The placement is conducted under the authority granted by the unitholders and aligns with the company’s broader financial strategy to optimize its market position.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

Ascott Expands The Crest Collection into East Asia and Middle East
Jun 3, 2025

The Ascott Limited is expanding its luxury brand, The Crest Collection, into East Asia and the Middle East, adding new locations in Japan, China, the UAE, and Saudi Arabia. This expansion includes the brand’s first resort and aims to meet the growing demand for heritage-rich luxury stays. The expansion adds over 1,200 units to its portfolio, which now includes 16 properties across 11 countries. The brand’s growth is part of a broader strategy to diversify the Ascott Star Rewards portfolio, offering more luxury options to its members.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Ascendas REIT Announces Strategic Property Acquisitions in Singapore
May 28, 2025

CapitaLand Ascendas REIT Management Limited (CLARML), managing CapitaLand Ascendas Real Estate Investment Trust (CLAR), announced plans to acquire two properties in Singapore: a data center at 9 Tai Seng Drive and a business space at 5 Science Park Drive. These acquisitions, expected to complete in the second half of 2025, signify CLAR’s strategic expansion in the data center and business space sectors, potentially enhancing its portfolio and market position.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Limited Holds Annual General Meeting
May 26, 2025

CapitaLand Investment Limited recently held its Annual General Meeting at Marina Bay Sands Expo and Convention Centre in Singapore. The meeting was attended by the company’s board of directors and key management personnel. This gathering is significant for stakeholders as it provides insights into the company’s strategic direction and operational focus, reinforcing its commitment to sustainability and risk management in its business practices.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Launches First Onshore Master Fund in China
May 21, 2025

CapitaLand Investment Limited has launched its first onshore master fund in China, the CLI RMB Master Fund, with a total equity commitment of RMB5 billion. Partnering with a major domestic insurance company, the fund aims to invest in high-quality, income-producing assets across Tier one and top Tier two cities. This strategic move is expected to contribute significantly to CLI’s funds under management and attract more domestic investors, particularly insurance firms, to its sub-funds. The initiative aligns with the rising trend of insurance companies increasing their capital allocation to real estate in China, offering them opportunities to invest in a diversified and resilient portfolio.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

Ascott Limited Launches Talent Development Programs to Fuel Global Expansion
May 14, 2025

The Ascott Limited is enhancing its talent development initiatives to support the opening of over 300 new properties by 2028, which will create more than 12,000 new jobs. The company has launched ‘Ascott Accelerate,’ a program aimed at fast-tracking high-potential talent into leadership roles, alongside a new digital learning platform. These initiatives are part of the Ascott Global Academy for Excellence, which aims to build a future-ready workforce and achieve over S$500 million in fee-related earnings by 2028. Ascott’s growth strategy includes expanding its portfolio beyond serviced residences to include various accommodation types, reinforcing its position as a preferred hospitality company.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.85 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

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.Date of analysis: Jul 24, 2025