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

$3.77

20 Feb
2025

0.020

OPEN

$3.75

0.53%

HIGH

$3.77

1,317,704

LOW

$3.67

TARGET
$4.25 12.7% 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 . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ARF: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 16.1 18.8 xxx
DPS (cps) xxx 17.4 18.2 xxx
EPS Growth xxx - 22.8% 16.8% xxx
DPS Growth xxx 3.6% 4.6% xxx
PE Ratio xxx N/A 19.9 xxx
Dividend Yield xxx N/A 4.9% xxx
Div Pay Ratio(%) xxx 108.1% 96.8% xxx

Dividend yield today if purchased 3 years ago: 3.52%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.64

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx16.1
DPS All xxxxxxxxxxxxxxx17.4
Sales/Revenue xxxxxxxxxxxxxxx98.2 M
Book Value Per Share xxxxxxxxxxxxxxx340.8
Net Operating Cash Flow xxxxxxxxxxxxxxx62.5 M
Net Profit Margin xxxxxxxxxxxxxxx58.00 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx4.72 %
Return on Invested Capital xxxxxxxxxxxxxxx3.64 %
Return on Assets xxxxxxxxxxxxxxx3.57 %
Return on Equity xxxxxxxxxxxxxxx4.72 %
Return on Total Capital xxxxxxxxxxxxxxx5.34 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-41.4 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx377 M
Total Debt xxxxxxxxxxxxxxx377 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx12 M
Price To Book Value xxxxxxxxxxxxxxx1.14

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx60.6 M
Capex % of Sales xxxxxxxxxxxxxxx61.69 %
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx13 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,594 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

0.1

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

13/02/2025

3

Neutral

$3.96

5.04%

Arena REIT reported 1H25 earnings results that met Macquarie's expectations but exceeded consensus by 2%, the broker notes.

Like-for-like rental growth for the period was 3.2%, a slowdown from FY24 and FY23, due to lower CPI-linked escalators, which the analyst anticipates will remain lower in the future but be offset by market reviews of an estimated 7%-10% per annum.

The REIT’s gearing declined slightly to 20.8% from 22.6% at the end of FY24, and management retained FY24 guidance for a dividend per share of 18.5c.

Neutral rating retained. The target price slips by -1% to $3.96 from $3.99.

FORECAST
Macquarie forecasts a full year FY25 dividend of 18.30 cents and EPS of 18.70 cents.
Macquarie forecasts a full year FY26 dividend of 19.00 cents and EPS of 19.50 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Moelis

13/02/2025

3

Hold

$3.98

5.57%

Arena REIT's 1H25 result was in line with Moelis' expectations, with the REIT also maintaining full-year dividend guidance of 18.25c.

The broker notes like-for-like rents grew by 3.2%, with 87% of FY25's rent roll benefiting from CPI links, and a further 8% subject to market reviews. The REIT's 18 market reviews during the half remain in negotiation with most subject to a 7.5% cap.

Hold rating maintained, and target price rises slightly to $3.98 from $3.95.

FORECAST
Moelis forecasts a full year FY25 dividend of 18.30 cents and EPS of 18.70 cents.
Moelis forecasts a full year FY26 dividend of 19.20 cents and EPS of 19.60 cents.
Access Extra Coverage Research History >

ARF STOCK CHART

FNArena News on ARF

1
Australian Broker Call *Extra* Edition – Feb 17, 2025

Feb 17 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 13-02-2025

Feb 13 2025 - Australia
3
Australian Broker Call *Extra* Edition – Feb 13, 2025

Feb 13 2025 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 31-01-25

Feb 03 2025 - Weekly Reports
5
Rudi’s View: Feb Season’s Best Buys & Key Picks

Jan 23 2025 - Rudi's View

Latest REITs News

1
Australian Listed Real Estate Tables – 17-02-2025

Feb 17 2025 - Weekly Reports
2
Australian Listed Real Estate Tables – 10-02-2025

Feb 10 2025 - Weekly Reports
3
Australian Listed Real Estate Tables – 03-02-2025

Feb 03 2025 - Weekly Reports
4
Ask FNArena: CSL, Charter Hall & Dexus

Dec 16 2024 - Rudi's View
5
Australian Listed Real Estate Tables – 16-12-2024

Dec 16 2024 - Weekly Reports
6
Australian Listed Real Estate Tables – 09-12-2024

Dec 09 2024 - Weekly Reports
7
Australian Listed Real Estate Tables – 02-12-2024

Dec 02 2024 - Weekly Reports
8
Australian Listed Real Estate Tables – 25-11-2024

Nov 25 2024 - Weekly Reports
9
Australian Listed Real Estate Tables – 18-11-2024

Nov 18 2024 - Weekly Reports
10
Australian Listed Real Estate Tables – 11-11-2024

Nov 11 2024 - Weekly Reports