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Charter Hall 1H FY18 Results
Charter Hall Group (ASX: CHC) today announced its half year results for the period to 31 December 2017. The strength of the Group’s financial performance can be seen across key financial and operational metrics:
1H FY18 Financial highlights:
- Operating earnings per security pre-tax of 24.0 cents, up 8.3% on pcp
- Operating earnings per security post-tax of 20.4 cents, up 4.3% on pcp
- NTA per security growth of 2.6% to $3.69
- 1H FY18 Distribution of 15.6 cents per security, up 8.4% on pcp; comprising a 9.4 cents per security distribution from Charter Hall Property Trust (CHPT) and a 6.2 cents per security fully franked dividend from Charter Hall Limited (CHL)
- Statutory profit after tax of $121 million
1H FY18 Operational performance:
- Access - Secured $0.9 billion of gross equity flows, with $480 million raised in Wholesale Funds and Partnerships, $323 million raised in Direct Funds and $78 million raised in Listed Funds.
- Deploy - Completed $2.0 billion of gross property transactions comprising $1.5 billion in acquisitions and $0.5 billion in divestments.
- Manage - 10.4% growth in Funds Under Management (FUM) to $21.9 billion across a portfolio comprising 336 properties, an occupancy of 97.8%, WALE of 7.7 years and $1.5 billion of rental income.
- Invest - Property Investment (PI) Portfolio increased by 6.8% to $1.6 billion. Attractive Property Investment earnings yield of 6.4%.
Charter Hall Retail REIT 1H 18 Results
Charter Hall Retail REIT delivers on strategy and positions for growth
Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announced its results for the half year to 31 December 2017.
Key financial results:
- Operating earnings of $61.9 million or 15.30 cents per unit, an increase of 0.6% on the prior corresponding period (pcp)
- Distributions of 14.00 cents per unit, maintaining a sustainable payout ratio range between 90% to 95%
- Net tangible assets (NTA) up 1.5% to $4.19 per unit
- Pro-forma balance sheet gearing of 33.9% post asset sales remains in the middle of the 30-40% range
- Portfolio value of $2.9 billion, up 5.2% from $2.8 billion at June 2017
- Repaid and cancelled $50 million debt facility. No debt maturing until FY21
- Acquired Salamander Bay, NSW and Highfields, QLD for $215.5 million at a yield of 6.0%. Divested 11 lower growth properties for $229.8 million1 at an average yield of 6.9%
- Commenced $70 million2 of redevelopment works at Lake Macquarie, NSW and Wanneroo, WA
- Like-for-like net property income (NPI) growth of 1.3% pcp
- Majors MAT growth of 4.1% for stores in turnover
- Portfolio MAT growth of 2.3%
- Completed 118 lease renewals and 74 new leases reflecting continued focus on specialty leasing
- Stable occupancy at 97.8%
- Majors WALE of 10.8 years and portfolio WALE of 6.7 years
Charter Hall Long WALE REIT 1H FY18 Results
Charter Hall WALE Limited, as responsible entity of the Charter Hall Long WALE REIT (ASX:CLW) (CLW or the REIT) today announced its 1H FY18 results for the period from 1 July 2017 to 31 December 2017. Key financial and operational highlights for the period are:
- Statutory Profit of $45.9 million;
- Operating Earnings of $27.3 million;
- Operating Earnings per security (EPS) of 13.0 cents, 1.8% above PDS 1H FY18 EPS forecast;
- Distribution per security (DPS) of 13.7 cents1;
- NTA per security increased to $4.02, reflecting 2.2% growth in the period; and
- Balance sheet gearing of 28.62%.
Moodys Ratings Outlook Update
CQR divests two assets at premium to book value
Charter Hall Retail REIT (CQR or the REIT) today announced that it has exchanged contracts to divest two assets for a total consideration of $38 million. The properties contracted for sale include Springfield Fair in Queensland, a Coles anchored centre with a 4.2 year WALE and Goonellabah in northern NSW, a Coles and Target Country anchored centre with a 3.6 year WALE.
Notice regarding new AMIT Regime - CQR
This information is published by Charter Hall Retail Management Limited (RE) as responsible entity of Charter Hall Retail REIT (Trust) under section 601GCB(2) of the Corporations Act as modified by ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489 (Class Order) to inform members of the Trust (Members) that the RE has amended the constitution for the Trust (Constitution) to allow the Trust to be operated as an attribution managed investment trust under the new AMIT Regime.
Confirmation of Release - Dividend/Distribution for CQR
Confirmation of Release - Dividend/Distribution for CQR
Notice under section 601GCA(3) of the Corporations Act - CQR
Notice under section 601GCA(3) of the Corporations Act
Second Notice under section 601GCA(3) of the Corporations Act
Notice regarding new AMIT Regime
This information is published by Charter Hall Direct Property Management Limited (RE) as responsible entity of each of the trusts identified below (each, the Trust) under section 601GCB(2) of the Corporations Act as modified by ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489 (Class Order) to inform members of the Trust (Members) that the RE has amended the constitution for each Trust (each, the Constitution) to allow the Trust to be operated as an attribution managed investment trust under the new AMIT Regime.
CQR focuses on non-discretionary retail portfolio divesting $91 million of non-core assets
Charter Hall Retail REIT (CQR or the REIT) today announced that it has exchanged contracts to divest three assets for a total consideration of $91 million. The properties contracted for sale include a freestanding Woolworths neighbourhood centre in Wynyard, Tasmania, Albany Creek Square in Brisbane and Renmark Plaza in Renmark, South Australia.