Charter Hall Subtly Pivots Strategy to Slightly Larger Metropolitan Malls. AUD 4.00 FVE Unchanged
Charter Hall Retail’s first-half fiscal 2017 operating earnings of AUD 15.2 cents per security, or cps, puts the trust comfortably on track to achieve reiterated fiscal 2017 guidance of 30.40 cps and 90% to 95% payout ratio. Fiscal 2017 earnings guidance represents no growth as organic rent increases and falling borrowing costs are offset by foregone rental income from a significant asset sales program that is under way. Our fair value estimate is unchanged at AUD 4.00, and with the stock tradin...Charter Hall Retail REIT is a real estate investment trust (REIT). The principal activity of the Company is property investment. The Company's segments include Freestanding supermarkets, Neighbourhood shopping centres, Sub-regional shopping centres and REIT operations. The Freestanding supermarkets segment consists of standalone supermarket with no specialty shops. The Neighbourhood shopping centres segment consists of local shopping centers with one supermarket and a gross lettable area (GLA) less than 10,000 square meters. The Sub-regional shopping centres segment consists of medium sized shopping centers typically incorporating over one full line discount department store and a supermarket with total GLA of approximately 40,000 square meters. The REIT operations segment includes all other income and expenses, which are not directly attributable to these shopping centers. The Company's subsidiary, Charter Hall Retail JV Trust, is engaged in the property investment.
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