ARENA REIT (ARF)
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ARF

ARF - ARENA REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ASX200 | ASX300 | ALL-ORDS

Arena REIT is an Australian real estate investment trust with a portfolio of properties focussed on childcare, healthcare, education and government tenanted facilities. It has been listed since 2013.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.61

26 Dec
2025

0.000

OPEN

$3.61

0.000

HIGH

$3.61

0

LOW

$3.61

TARGET
$4.193 16.1% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ARF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 20.9 19.7 xxx
DPS (cps) xxx 18.3 19.3 xxx
EPS Growth xxx 29.9% - 5.7% xxx
DPS Growth xxx 4.9% 5.8% xxx
PE Ratio xxx N/A 18.3 xxx
Dividend Yield xxx N/A 5.4% xxx
Div Pay Ratio(%) xxx 87.3% 98.0% xxx

Dividend yield today if purchased 3 years ago: 4.77%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.07

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/06 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx20.9
DPS All xxxxxxxxxxxxxxx18.3
Sales/Revenue xxxxxxxxxxxxxxx110.1 M
Book Value Per Share xxxxxxxxxxxxxxx308.1
Net Operating Cash Flow xxxxxxxxxxxxxxx74.3 M
Net Profit Margin xxxxxxxxxxxxxxx74.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx6.73 %
Return on Invested Capital xxxxxxxxxxxxxxx5.05 %
Return on Assets xxxxxxxxxxxxxxx4.73 %
Return on Equity xxxxxxxxxxxxxxx6.73 %
Return on Total Capital xxxxxxxxxxxxxxx5.15 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-201.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx437 M
Total Debt xxxxxxxxxxxxxxx437 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx17 M
Price To Book Value xxxxxxxxxxxxxxx1.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx225.4 M
Capex % of Sales xxxxxxxxxxxxxxx204.81 %
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx21 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,775 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

14/08/2025

3

Neutral

$4.06

12.47%

Arena REIT reported an in-line FY25 result, with FY26 dividend guidance coming in 1% better than UBS expected.

Like-for-like growth of 3.5% beat the analyst's forecast of 3%, with 100% occupancy and the WALE moving out to 19.3 years from 18.8 years. Nevertheless, UBS finds the growth outlook rather ho-hum, with like-for-like growth slowing with CPI, as around 85% of the leases are CPI-linked.

The REIT's low gearing and strength of balance sheet allow for capex to support growth.

Target moves to $4.06 from $4.19. Neutral rated.

FORECAST
UBS forecasts a full year FY26 dividend of 19.30 cents and EPS of 20.00 cents.
UBS forecasts a full year FY27 dividend of 20.10 cents and EPS of 20.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

03/09/2025

1

Buy

$4.75

31.58%

Jarden notes REIT stocks outperformed in August, up 6.2%, with the performance supported by the sector exceeding elevated expectations during the result season.

Macro tailwinds like rate cuts, cap rate compression and limited supply support rental/price growth and asset values. Balance sheets are healthy, enabling capital deployment and potential consolidation-driven upside.

Among key risks in the broker's view are elevated rates vs past cycles, regulatory headwinds, and a wide gap between underlying and cash-backed earnings.

The broker believes Arena REIT provides an attractive yield (4.8%) despite trading at a 17% premium to updated NTA. 

Buy. Target rises to $4.75 from $4.60.

FORECAST
Jarden forecasts a full year FY26 dividend of 19.30 cents and EPS of 19.50 cents.
Jarden forecasts a full year FY27 dividend of 20.50 cents and EPS of 20.80 cents.
Access Extra Coverage Research History >

ARF STOCK CHART

FNArena News on ARF

1
Australian Broker Call *Extra* Edition – Dec 24, 2025

Dec 24 2025 - Daily Market Reports
2
Clouds Parting For Australia’s REIT Sector

Sep 22 2025 - Australia
3
Australian Broker Call *Extra* Edition – Sep 11, 2025

Sep 11 2025 - Daily Market Reports
4
Rudi’s View: Catalyst Metals, Dexus, Neuren, Stockland, ResMed & More

Sep 04 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Aug 18, 2025 (Extra)

Aug 18 2025 - Daily Market Reports

Latest REITs News

1
Australian Listed Real Estate Tables – 22-12-2025

Dec 22 2025 - Weekly Reports
2
Australian Listed Real Estate Tables – 15-12-2025

Dec 15 2025 - Weekly Reports
3
Australian Listed Real Estate Tables – 08-12-2025

Dec 08 2025 - Weekly Reports
4
Australian Listed Real Estate Tables – 01-12-2025

Dec 01 2025 - Weekly Reports
5
Australian Listed Real Estate Tables – 24-11-2025

Nov 24 2025 - Weekly Reports
6
Australian Listed Real Estate Tables – 17-11-2025

Nov 17 2025 - Weekly Reports
7
Australian Listed Real Estate Tables – 10-11-2025

Nov 10 2025 - Weekly Reports
8
Australian Listed Real Estate Tables – 03-11-2025

Nov 03 2025 - Weekly Reports
9
Bull Flag For Charter Hall

Oct 28 2025 - Technicals
10
Australian Listed Real Estate Tables – 27-10-2025

Oct 27 2025 - Weekly Reports