I’ve lamented in the past that no matter what CapitaLand (OTCPK:CLLDY) (CATL.SI) does, the shares seem stuck between S$3 and S$4. When I last wrote about the shares,
they were on their way down to retest that S$3 level and have since
rebounded on good second quarter earnings, the naming of a new CEO, and
ongoing steps to recycle capital into new investments, including a
meaningful move into the U.S. market.
CapitaLand
remains a challenging stock. The liquidity for the ADRs isn’t great (the
Singapore-listed shares are far more liquid), and this is a tough stock
for many investors to evaluate and model. On the other hand, CapitaLand
has proven itself to be a quality developer and manager of properties
in Asia with the ability to earn above its cost of capital. That is not
presently reflected in the share price, and I believe there is still
worthwhile upside from these levels.
Click here for more:
CapitaLand Bouncing Back On Renewed Asset Recycling
