Century Properties Group, Inc. (CPG) announced today that it had signed an agreement with Leechiu Property Consultants through Century City Development II Corporation (CCDCII).
Leechiu, a real estate brokerage service provider, agreed to a PHP 4.5 billion office building deal with CPG. The property is located in Century Makati.
Leechiu is the exclusive agent to market the leasable spaces of Century Diamond Tower. The project is a 35-storey high-end office that CCDCII currently develops.
CCDCII is a company co-owned by CPG’s subsidiary, the Century City Development Corporation (CCDC) and Mitsubishi Corporation.
This building is accredited by the Philippine Economic Zone Authority (PEZA) and is estimated to finish by 2019. It has a net leasable area of 58,618 square meters.
The project is also compliant with the core and shell rating of the Leadership in Energy and Environmental Design (LEED).
Moreover, the tower is designed with the latest building features such as a building automation system, 100 percent backup power with redundancy, alarm systems, VRF air-conditioning system, and fire detection. It also has 11 floors to accommodate up to 650 parking slots.
CPG’s Four-Platform Business
CPG rellocates assets and diversifies its portfolio only from high-rise condominium projects to other segments such as affordable horizontal housing, leisure, tourism, and for lease properties. These plans compose the company’s four-platform business.
So far, the company has succeeded in increasing its recurring income by double digits as it continues to reach its goal of quadrupling its leasing assets. CPG has a completed gross floor area of 133,000 square meters.
However, the goal is to bring this number to 300,000 square meters by 2020. The company also aims to have a recurring revenue of PHP 1.5 billion by 2020.
CPG earned a total of PHP 4.69 billion in revenues for the first half of the year, a 40 percent increase over the recorded PHP 3.35 billion in the same period in 2017.
Nonetheless, the net income was slightly higher by 9.87 percent at PHP 489.85 million versus the recorded PHP 445.81 million in the first half of 2017.
Technical Analysis
CPG appears to have made a breakout today. The price found support at the 15 EMA, 20 SMA and 50 SMA altogether. The price also breached the 200 SMA which is a good bullish signal.
Furthermore, the volume supported the rally and the volume profile so far supports a bullish outlook. MACD is poised for a bullish crossover.
RSI is also bullish but is not yet at overbought levels. For the stock to be more bullishly convincing, it is preferable that it breaks resistance at 0.475 to 0.48. Estimated support is at 0.455.
Volume
As of September 12, 2018, at 03:30 PM, the volume of CPG is 591.60% of the previous trading day. This stock’s latest volume is already above its 30-day volume average.
Remember the correlation between price and volume.
bullish price + volume above the 30-day volume average = bullish
bullish price + volume below the 30-day volume average = neutral
bearish price + volume above the 30-day volume average = bearish
bearish price + volume below the 30-day volume average = bearish
Risk Level
CPG has a LOW-RISK level due to its risk percentage of 34.49%.
Foreign Fund Flow
CPG registered a Net Foreign Selling worth P3,192,950.00 as of September 12, 2018. On a 30-day trading period, CPG is on a Net Foreign Buying worth PHP1,310.000.
Top 10 Players’ Sentiment
Trading participants of CPG with a 100% Buying and Selling Activity as of Sep-12-2018 at 03:30 PM:
4 out of 33 participants or 12.12% of all participants registered a 100% BUYING activity
14 out of 33 participants or 42.42% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 0.4560
Top 10 Players’ Selling Average: 0.4568
The psychological average price of the top 10 players as of Sep-12-2018 is from 0.4560 to 0.4568.
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