City Developments (CDEVY) Upgraded to “Hold” at Zacks Investment Research

City Developments (OTCMKTS:CDEVY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “City Developments Limited (CDL) is one of the largest real estate companies of Singapore. By market capitalization, the firm’s income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls. CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest land banks amongst Singapore private-sector developers. Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia. The Company is also leveraging its stable of prime assets and growing its real estate funds management business. “

Separately, ValuEngine cut shares of City Developments from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th.

City Developments stock traded up $0.07 during trading hours on Monday, hitting $6.25. The company had a trading volume of 9,100 shares, compared to its average volume of 9,390. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 12.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 1.55. City Developments has a 1 year low of $6.10 and a 1 year high of $10.32.

City Developments Company Profile

City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 100 locations in 28 countries. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls.

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