CapitaLand Evolving With The Times

Singapore's CapitaLand (OTCPK:CLLDY) (C31.SI) really hasn't done much for investors since the last time I wrote on this high-quality property developer. Although the shares have outperformed peers/comps like China Overseas (OTCPK:CAOVY) and City Developments (OTCPK:CDEVY), I don't think "less bad" is what investors should shoot for, and sentiment has been weighed down by tougher conditions in the Singapore and China property markets, skepticism about the sector as a whole, and a slower progression towards management's ROE goals.

CapitaLand shares do still look undervalued, and I think CapitaLand will be a long-term winner in the space. What's more, I think the company's efforts to invest in Vietnam and pursue an asset-light model will give shareholders a better growth and return mix down the road. That said, the U.S. ADRs are not especially liquid (the Singapore-listed shares are much more liquid, though) and I believe this is a difficult type of company for individual investors to track, benchmark, and analyze.

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CapitaLand Evolving With The Times