Few Catalysts Ahead to Jump-Start Charter Hall Sales and Rents. FVE Cut to AUD 3.70
Charter Hall Retail reported first-half fiscal 2018 operating earnings of AUD 15.3 cents per security, or cps, up 0.6% on the previous corresponding period. Delays in the timing of income-dilutive asset sales is the main factor in the tightening of the guidance range for fiscal 2018 to AUD 30.4 to 30.6 cps, from AUD 30.2 to 30.6 cps in late October.Cuts to our long-term growth assumptions for specialty tenant rents sees our fair value fall to AUD 3.70 from AUD 3.90. At current levels, Charter H...
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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